As increasing numbers visit and consider joining those who’ve relocated to Dubai, Bardia Eshghi of Grand Lux Properties details the factors which are making the city so attractive to international buyers, and why delaying investment could prove costly:
“Despite already being a globally recognized destination, it’s important to highlight that Dubai has huge plans in the pipeline, and it’s likely that property prices will continue to rise sharply when these come to fruition. Population forecasts* indicate the rush is due to begin in earnest in the next couple of years, and that demand will then start to outweigh supply.
Substantial investments by household names and blue chip companies are becoming more prevalent, with significant off-plan branded residences due to be completed in the next couple of years and now being the time for purchasers to choose their spec. These top tier partnerships will offer world-class service, security and lifestyle consistency, along with all that Dubia already has to offer:
Opportunities
Employment prospects are definitely on an upward trajectory in Dubai, with the world’s biggest brands settling into the fast paced environment where processes can be completed much quicker than in other countries, thanks to streamlined digital systems and a lack of red tape. The best educational establishments are also becoming synonymous with Dubai, with more private schools and higher education institutions on offer.
Tax
So many are relocating primarily because they’re fed up with high tax in their home countries, and Dubai’s efficient and favourable system continues to offer an extremely tempting haven. Trusted advisors are on hand to help newcomers navigate Dubai’s legal, financial and property frameworks.
Convenience
Due to its central location, most notable cities are a maximum of a six hour flight away and therefore Dubai is a great base for both business and leisure travel. The visa process is also very quick, with an application taking only 7 days, although a visa is not needed to buy a property. Developer-backed payment plans and other incentives are also reducing barriers to entry.
Safety
The Government’s strict laws and zero tolerance approach to crime are a clear deterrent so, unlike cities such as London, people feel safe walking around with a luxury watch on their wrist and driving a high end car. This feeling of security is especially appealing for high net worth individuals and families who want to give their children more independence without fear.
Lifestyle-led communities
As well as the climate and benefits of waterfront living, people are seeking neighbourhoods which prioritize wellbeing and socializing by boasting both open spaces and a high standard of commercial, entertainment and community focused amenities.
The cool factor
Increasing numbers of celebrities such as Hollywood A listers and superstar footballers are being spotted in Dubai, with the city being both a playground and permanent home for the rich and famous who seek security and all the trappings of success on offer.
Dubai is currently seen as a stable and attractive investment option, with increasing confidence as the property market thrives and grows thanks to a surge in off-plan purchases.”
Grand Lux Properties is a boutique agency catering to bespoke requirements, with one bedroom properties starting at £400,000 and luxury waterfront villas on the market for more than £32,000,000. For more information please visit www.grandluxproperties.com