After the UAE’s effective control of the COVID-19 pandemic, the real estate market in Dubai saw substantial changes. Dubai evolved itself as a worldwide investment destination. Expats seem to purchase three-quarters of the city’s real estate. Due to the wide range of properties available, UAE promises a high return on investment, and a well-regulated market. Here’s the reason why affluent Indian expats are buying second homes in Dubai!
Can Affluent Indian Expats Buy Properties In Dubai?
Yes, foreign nationals, both affluent Indian expats and non-resident investors, can acquire freehold property in Dubai. This permits foreign nationals to purchase, sell, or lease property in the UAE. Although buying property in Dubai as an Indian Expat on a freehold basis is only permitted in government-designated zones. We have always linked Emirates with menial labour and construction activities among Indians. However, it has attracted a significantly more wealthy clientele in recent years.
Also Read: Dubai Emerges As The Most Preferred Destination For Secondary Residence Or Citizenship
Reasons Why Indians Invest In Dubai
You can purchase property in Dubai’s real estate market by reimbursing the proprietor the cost of an asset. This easiness of buying property is particularly intriguing when considering the attitudes of affluent Indian expats.
In Dubai, purchasing property assets is a fantastic idea because the UAE government levies zero tax on rental revenue and capital gains on acquired property. The rental return for property investment in India, on the other contrary, is way too burdened by taxes and red tape.
Since 2017, Indians are ranked amongst the top 3 nationalities investing in properties in Dubai.
After the pandemic, Indians are now eyeing properties in Dubai more than ever before.
Since the pandemic, interest in Dubai real estate has only increased.
Source- Financial Express pic.twitter.com/nnODQTSmCV— Inchbrick.com (@inchbrick) January 12, 2022
Other benefits offered by the Arab countries include ease of leave, no lock-in time, and permissions processed through a single window. All of this, along with the emirates’ unparalleled richness and way of life. Why will wealthy Indian expats not choose Dubai as their second home? Aside from the economic benefits, Indian businesspeople chose Dubai for its vicinity.
The Reserve Bank of India had previously stated that its foreign exchange remittance ceiling had quadrupled. As a result, purchasing property in Dubai has become much easier for Indian investors.