Can Indian buy property in Dubai – Indians are putting billions of dirhams in Dubai’s real estate market for years now. Assured of higher yields, capital appreciation and a status symbol of being part of the world’s most dynamic city. It is absolutely allowed to Indians to invest in real estate in Dubai. This is the reason that the demand for properties is at its peak these days. Let us know more in detail about – can Indians buy property in Dubai? Swipe down.
Indians have invested Dh713billion, topping the list of expatriate buyers in Dubai’s realty market. With Emirates 24/7 calculations putting the figure at Dh57 billion from 2012 to September 2015.
The Indian investment in real estate of Dubai has raised to a great extent. With an ample of options to buyers to accommodate their budget and preferences. The luxurious properties in Dubai like Burj Khalifa, DAMAC properties, Ellington properties, Jumeirah Lake Towers. Also, suggest that the buyers are looking at profitable dividends in the shape of rents and resale value. Let us go in detail below to know the buying property in Dubai process.
Reasons that Indians Are Buying Properties in Dubai
Of course, by keeping all the major beneficial aspects in mind, Indians plan to invest in the property in the luxurious city Dubai. But apart from this, there is a number of reasons that have raised the sale and purchase of properties in Dubai. Go below to check out.
Assured capital gains
With the growing economy, Dubai is the fastest growing city and offers assured capital gains. Dubai is working on mega infrastructure projects and is the host city for Expo 2020, which will lead to an influx of visitors. Experts believe capital appreciation in the run-up to 2020.
This is the major or prime perk of investing in Dubai that there is no tax on rental income, while in India one has to pay tax on rental income. Thus the tax-free status and easy repatriation policies make it profitable for Indians to buy and rent the unit.
In 2015 driven by slowing sales volume the property prices in Dubai have declined. Which eventually turned it as the right for investors to buy property here as they stand to get good bargains on ready as well as off-plan properties. According to Knight Frank, $1 million buys just 96 square meters of land in Mumbai, while the same amount fetches 145 square meters of property in the emirate.
Safe and secure
Dubai is safe and secure in all aspects all over the universe. The emirate has business-friendly laws and allowing investors to set up companies in just a few days. It has been investing billions of dirhams to upgrade the infrastructure of the city.
With the best skyline ever, Dubai is home to Burj Khalifa, the world’s tallest tower, where a number of Indians own apartments. Millions of tourists or visitors, come to Dubai and the property owners are allowed to lease their units, after taking permission from Dubai’s Department of Tourism and Commerce Marketing, as holiday homes, boosting return on investment.
Proximity to India
The geographical location of Dubai is another prime reason for Indians to come to the emirate. It takes a mere 150 minutes to reach Mumbai, India’s financial capital and three hours to reach New Delhi, India’s capital. Emirates, Etihad, Air Arabia, and Air India offer seamless connectively to a number of destinations across India.
Guide to buying property in Dubai
Finding the right Dubai property advisor. The Dubai property market is very different from other countries in the world; making sure you have a Dubai real estate agent you trust to guide you through the process is crucial.
- Legal substructure – Any person of different countries can buy in Dubai’s freehold property market in designated areas as authorized by His Highness the Ruler of the Emirate of Dubai. You are not required to hold any type of residency or similar permit in order to purchase the property.
- Time Duration – It takes 30 days on an average property transaction in Dubai to complete from the date on which the Agreement for Sale is signed.
- Process – The procedures for buying real estate in Dubai are straightforward, for the most part.
- Buyer and seller agree on terms – A Memorandum of Understanding (MOU) is signed and a deposit (usually 10%) is paid.
- Documents Required – Individual Buyer: Original Passport
Mentioned above is the entire information of can Indians buy property in Dubai, along with the major perks and rule guidelines. Investing in Dubai is one of the best assets for Indians. There is no hurdle for Indians to buy property in Dubai, all you need to figure out the right property to invest in, genuine dealers and follow the guidelines.