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Minimum Income to Buy A Property in DubaiDubai is one of the leading destinations among people wishing to make a profita...
17/05/2023

Minimum Income to Buy A Property in Dubai
Dubai is one of the leading destinations among people wishing to make a profitable investment or purchase their dream residential home to experience a waterfront lifestyle. More and more people are interested in buying a property here, and one of the key questions is how much salary is needed to purchase a residential unit in Dubai? While some people prefer ready-to-move-in properties, others choose off-plan projects and take a loan out from the local bank. In this article we will calculate the minimum income you will need to become the owner of an apartment or villa in the most popular and in-demand areas in Dubai.
Why Invest in Dubai Property?
Dubai has been, and still is considered one of the safest cities in the world for several years in a row, according to Numbeo. Moreover, it’s the third safest city in the world for female travelers according to a study released by insurance website InsureMyTrip. And according to The Bucket List Company, Dubai is ranked fourth in the top most Instagrammable travel destinations in the world.
A wide range of job and business opportunities attract outstanding graduates, talented people and professionals from all over the world, as well as the warm climate and the crystal waters of the Arabian Gulf. Moreover, the emirate has become popular due to its successful combat of Covid-19 which included a mass testing strategy and a nationwide vaccination campaign.
If you wish to know more about the process of getting a mortgage in Dubai, Metropolitan Premium Properties real estate agents are always ready to provide you with the latest information. We work with major banks, including RAK Bank, Commercial Bank Dubai and Dubai Islamic Bank. Our specialists will gather all the necessary documents, put together your credit history, verify your income and help you to get a mortgage.
Note: New visa rules were launched in the UAE on September 5, 2022, which means a long-term permit to stay in the country has become more accessible. For instance, you can get a 10-year Golden Visa for you and your family members even if you purchase an off-plan property or take a loan from the bank. If you wish to move to Dubai or any other emirate feel free to write us for the professional consultation!

Cash VS Mortgage There is a common belief that having debt is bad, so people think that buying a home with cash to avoid...
16/05/2023

Cash VS Mortgage
There is a common belief that having debt is bad, so people think that buying a home with cash to avoid debt is the smartest choice. Several factors need to be considered before deciding on this issue and they are:
Reason for purchase: rent, sale, or borrowing.
Your age: the older you are, the better to choose a mortgage.
Your occupation: self-employed trader, self-employed service provider, or an employer.
Buying a property in cash excludes paying the mortgage with interest, as well as, closing costs, creation fees, appraisals, and other mortgage fees. Cash buyers can purchase a property at a lower price and get a cash discount. In addition, the cash buyer’s home is not borrowed, making it easier for the homeowner to sell the home, regardless of market conditions.
Consequently, obtaining funding also has a significant benefit. Even if the buyer can pay for the house in cash, it might make sense not to tie a lot of money to the purchase of the property. Although, this may limit your options if other needs arise in the future.
We know these basic facts: cash is valuable if it is used in investments and loses its purchasing power by between 3-8 percent a year, due to inflation. Each property is an investment that usually gains value over time and can block against inflation, save rent, or make you money from renting. On the other hand, if you choose the right property and the right mortgage, the property can pay for itself.

16/05/2023

Benefits of investing in Dubai
High rental yield
Dubai is a global market that attracts individuals from all parts of the world for work, study and leisure. This translates into a high amount of rental activity in the market. As per historical data, Dubai assures lucrative Returns on Investment (ROI). On average, the annual rental yield, the method of gauging the ROI, is upwards of five percent in Dubai. At the same time, areas like Dubai Marina, Downtown Dubai, and Jumeirah Village Circle (JVC) manage to rake in over 7-8 percent rental yield.
Tax-free investment
UAE is known for its investor-friendly practices. An investment in Dubai attracts no annual property tax, income tax, capital gains tax, rental revenue tax, or Value Added Tax (VAT). This allows an investor to dedicate a much larger financial portfolio to purchasing property and, in turn, get higher returns. On average, an Indian can buy a luxury property in Dubai for Rs 2-6 crore. Interestingly, although investment in Dubai is devoid of direct taxes, you might be required to pay municipality fees and private community charges.

16/05/2023

Buy property in Dubai will be even easier
Dubai Land Department has launched a new instant sales feature that uses a no-audit transaction evaluation technology. Thanks to this, it will be possible to buy real estate and get the title deed in a matter of minutes.

Benefits of owning a property in Dubai: 1. Tax Advantages: Property owners in Dubai benefit from some of the most attrac...
16/05/2023

Benefits of owning a property in Dubai:
1. Tax Advantages: Property owners in Dubai benefit from some of the most attractive tax incentives in the world, including no capital gains tax and no personal income tax in certain areas.
2. Increased Capital Appreciation: Dubai has become one of the most sought-after real estate markets in the world, and properties are likely to appreciate in value over time.
3. Stable Economy: Dubai has a strong economy and is considered to be a safe haven for investors.
4. World-Class Infrastructure: The city has world-class infrastructure, including state-of-the-art transportation systems, modern hospitals, and top-notch educational institutions.
5. Luxurious Lifestyle: Residents of Dubai can enjoy a luxurious lifestyle, with access to world-class restaurants, shopping malls, and entertainment venues.

Address

ICD Brookfield Place, Dubai International Financial Centre
Dubai
00000

Telephone

+97144266999

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