Prior to 2001, Dubai was not on anyone’s radar as a prime area for real estate investment. Local laws made it difficult, if not impossible, for foreign nationals to invest in residential property in the Emirates. However, laws introduced in 2001 and 2002 allowed foreign nationals to buy 99-year leases or freehold properties in certain areas of the state. While there are restrictions on which areas expats and other foreign nationals can buy property, these areas are some of the most desirable and most sought-after locations.

Ryan Mahoney is a property professional in Dubai, UAE, and knows there are many benefits to purchasing property for residence, investment or renting out. You can learn more about the types of properties available to expats in Dubai in the PDF attachment to this post.

Choice and Availability

One of the main draws for foreign investors and expats exploring the residential property market in Dubai is the overwhelming choice on offer. The real estate and property markets in Dubai have been booming for many years and there is no shortage of options, ranging from modest single-family homes to luxurious villas, condos, and apartments. Many of these are in popular locations such as Jumeirah Lake Towers and Dubai Marina.

Tax Benefits

In financial terms, one of the key advantages to purchasing property in Dubai is the tax-free status of the Emirates. Residential properties are still exempt from tax, even following the 2018 introduction of VAT. This makes investment in property in Dubai a lucrative prospect.

Residential Visas

Another perk for those looking at luxury properties in Dubai is the issuance of three-year renewable residential visas.  For those purchasing completed freehold properties with valid title deeds to the sum of 1 million AED or more, a three-year visa is available, while five-year renewable visas are permitted for properties valued at 5 million AED or more.

You can see some of the most valuable residential properties in Dubai today in the embedded infographic.

Fast and Simple Buying Process

Purchasing a property in Dubai is a relatively straightforward process that can often be completed in around 30 days. Buyers and investors from overseas are only required to present a legal ID with proof of address, contact details, and a valid passport when purchasing residential property.

You can view the short video attachment about the expatriate community in the UAE.