As data from many agencies show, demand in the Dubai real estate market is still growing. Why has Dubai become one of the main destinations for relocation of citizens of many countries and why do people often visit the site https://thebroks.com/ dedicated to real estate in UAE?
Residency
It is easy to obtain residency in Dubai. For example, if you buy an apartment worth more than $205,000, you can obtain resident status. This is an analogue of a residence permit, which gives access to medical care, education, banking services and, most importantly, the right to legally stay in the country. In addition, residency can be issued for the entire family.
Profitability
At the moment, no bank deposit can bring such a high return as investing in real estate in Dubai. This year, real estate prices will continue to rise. At the same time, many investors understand that such an opportunity may not appear again and are rushing to use it.
Affordability
One of the main advantages of the UAE remains the relative affordability of real estate prices. In one of the prestigious areas of Dubai, $1 million can buy four times more square meters than in New York or Singapore. This explains the choice of many people with capital in favor of the UAE over other countries.
Does Dubai have prospects?
The answer to this question can be found by turning to the opinion of international institutions. In its forecasts, the World Bank claims that the UAE economy will grow by almost 5%. The reason is the recovery of the non-oil sector after the pandemic and a favorable business climate.
The International Monetary Fund also predicts growth in the UAE economy and expects the country’s GDP to increase by 4.2%.