Investing in real estate is a great way to build wealth and generate income. The city of Dubai offers a multitude of advantages to foreign investors, particularly in tax and administrative matters.
Dubai is one of the cities in the world that has experienced the greatest economic growth in recent years. It is thanks in particular to the oil industry and the investments made in luxury tourism that Dubai has become such an attractive destination.
The dynamic economy of the emirate and the facilities favoring foreign investment encourage more and more French people to invest their money there.
A dynamic real estate market with a high rental yield
Here are the average gross rental yields for several major cities for comparison:
Hong Kong 2.82%
Also note that real estate prices per square meter are generally lower than in many other cities around the world. Despite its reputation as a luxurious city, Dubai offers high quality real estate at very affordable prices.
Here is a comparison of the average prices per square meter for the purchase of housing in the city center in several major cities compared to Dubai:
Hong Kong €22,000/m²
A very advantageous tax system
Owners of real estate do not pay property taxes or taxes on rental income.
The only tax related to the real estate sector is a property transfer tax equal to 4% of the purchase price of the property.
Simplified administrative procedures
The administrative procedures for buying real estate in Dubai are simple and quick. Foreigners only need to hold a valid passport in order to purchase freehold real estate within the emirate allowing them to benefit from a residence VISA at the same time.