Could I invest in an apartment in Dubai?
Yes, you can invest in an apartment in Dubai! The city offers freehold properties, which allow foreigners to buy and own real estate outright in designated areas. You can purchase an apartment for personal use, rental income, or long-term investment, benefiting from:
- High Rental Yields: Dubai offers attractive rental yields, averaging 6-8% in some areas.
- No Property Taxes: There are no property or rental income taxes in Dubai.
- Residency Visa Eligibility: Purchasing property over a certain value (usually AED 750,000 or more) can make you eligible for a residency visa.
Popular areas for apartment investment include Dubai Marina, Downtown Dubai, Palm Jumeirah, and Jumeirah Lake Towers.