UAE is a land of expats from across the globe. People come to the UAE for earning tax-free money and often make this destination their home; such is the charm of this country! While Dubai remains the most attractive destination, each of the emirates in the UAE offers various reasons to stay in and own a piece of real estate here. Indians, who form the largest expat population of the UAE, are known for their love for gold and property investments. While a majority of them transfer money back to India, a significant number of them are making investments in UAE’s booming real estate market.
Why Invest in UAE Real Estate?
UAE is a major trading hub with some of the world’s biggest ports located in the country. It is also home to the world’s tallest buildings, best hotels, and biggest shopping malls. It is a major tourist destination, attracting millions of tourists every year who stay in hotels, go shopping in malls and have fun in amusement parks. The resident population of the UAE largely comprises of expats who usually rent houses during their stay.
Whether you own commercial real estate like shops or residential real estate like apartments and villas, UAE offers a very high potential for rental income. The proximity of this country to India also makes it an attractive investment destination for Indians because they can quickly travel to see what they are investing in.
After the economic downturn in 2008, when the UAE’s real estate market plummeted, there has been a steady revival in property demand. In 2014, the UAE generated over $30 billion in real estate sales with nearly half of it coming from foreign investors, mostly Indian and the British. Due to the revival in demand and easy availability of business finance, developers have resumed construction of projects that they had earlier put on hold. New real estate and infrastructure development projects are coming up as well. All these are signs of a real estate market with the potential for significant growth and returns on investment.
Who Can Invest in UAE Real Estate?
Virtually any investor from any part of the world can invest in the residential and commercial real estate market in the UAE. High net worth individuals can utilize asset management services for investing in the UAE because this gives them several options for investing directly or indirectly in real estate.