Is it safe for foreign investors to buy property in Dubai? Dubai continues to make news as one of the most reliable real estate markets in the world. With the demand for real estate holding steady, Dubai’s unmatched sector is forecasted to remain stable in the future, too, making it a safe and lucrative venture for foreigners.
There are a few major reasons that position Dubai to be one of today’s soundest real estate investments. Dubai has been crowned the #1 global destination for tourism, appealing to people from all over the world for its climate, culture, luxury, and attractions. It’s also strategically located as a central hub for business, and boasts a booming economy.
However, one of the biggest factors is Dubai’s government-backed support for its real estate sector, which plays a critical role in sustaining its incredible upward trajectory. Government agencies and councils like the Dubai Land Department (DLD) and Real Estate Regulatory Agency (RERA) implement and monitor numerous by-laws, regulations, and safeguards designed specifically to protect the rights of foreign investors and mitigate their risks.
From providing security for financial transactions to mediating the buyer/seller/developer relationship, here some of the most essential areas in which Dubai supports foreign investors.
- Robust registration for off-plan properties:
All properties and projects under construction must be registered with the DLD. This is helps ensure a real estate transaction is “valid” in the eyes of Dubai, and therefore properly monitored.
- Creating confidence between foreign investors and developers:
Also, developers are required to hold the proof of land ownership, and meet a benchmark of 20% completed construction or 20% bank guarantee prior to selling a project. And, they must maintain a brokerage contract and complete all amenities before handover.
- Monitoring escrow:
The DLD steps in as the escrow agent, ensuring that developers cannot withdraw any funds until the property changes hands to the buyer.
- Settling conflicts:
Dubai has numerous councils that mediate various property disputes, ranging from renter/tenant disputes, stalled projects, bounced checks, and other areas of real estate conflict.
- Post-sale protection:
Dubai holds developers accountable for any defects in the property within 10 years of filing its completion certificate.
Why Dubai is Worth the Investment:
| No property tax A stable exchange rates Rental yields Economic stability Luxury-style living Environmental preservation1 |
Future growth Easy installment plans Residency Golden Visa Safe, with a low crime rate World-class shopping |
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