What is the most attractive thing about Dubai?

What does Dubai real estate rely on to attract investors from all over the world?

Experiences of visiting the United Arab Emirates (2)

If you ask where the hottest real estate in the world is, it is undoubtedly the United Arab Emirates. Dubai. When you arrive in Dubai, you will find that Dubai is a large construction site under construction. Skyscrapers are rising from the ground, and villa areas are spread out. Real estate has become one of Dubai's pillar industries. According to 2007 statistics, real estate and its operating services accounted for 11.4% of GDP, and together with the construction industry, which is closely related to real estate, they accounted for 23.7% of GDP. According to 2006 data, real estate investment in Dubai has reached US$1 trillion. In 2008, Dubai's population was 2.26 million, of which less than 20% was domestic and more than 80% came from other Gulf countries and countries around the world. Since Dubai has a small population and good social welfare, locals can get free land and 30-year interest-free loans to build their own houses, so locals do not need to buy commercial housing from the real estate market. Therefore, Dubai's rapidly developing real estate targets foreign buyers and investors.

In 2004, Dubai real estate began to open to foreigners, and foreigners can buy houses in the government-designated "Free Zone" (Free Zone). It is not easy for foreigners to buy houses in desert towns. What does Dubai rely on to attract foreigners to buy houses?

1. Rely on policy

1. Permanent visa for the whole family

Foreigners who buy a house in Dubai can obtain a permanent visa for the whole family, that is, a green card, granted by the government. The permanent visa for the whole family does not include parents and children over 18 years old. Permanent visas are renewed every three years.

2. Property Rights Guarantee

Foreigners buying houses in Dubai can obtain permanent property rights or 99-year property rights. It can be renewed after the 99-year property right expires. Both types of property rights can be inherited, resold, transferred, mortgaged and other property rights transfer or commercial operations. When property rights are transferred, only a 2% transfer fee is required.

3. Tax-free

Dubai is a tax-free emirate (except for banking). There are no taxes on businesses or individuals. Enterprises have no business taxes such as business tax, income tax, and value-added tax. There is no income tax for individuals. There are no property taxes or other real estate taxes on the property. Therefore, the income gained by foreigners investing in real estate in Dubai can be fully attributed to themselves.

4. There is no interest on the mortgage during the off-plan period.

Most real estate in Dubai is off-plan, and the property is generally delivered within 2-3 years. After the home buyer pays 10-20% of the down payment, the remaining payment can be arranged by the developer and obtain a 2-3 year interest-free home purchase loan from the bank. The home buyer pays it in installments within 2-3 years of the construction of the off-plan house, unlike China also has to pay mortgage interest during the off-plan period. During this period, home buyers can resell the property off-plan or remortgage it. These two methods are particularly beneficial to house flippers, because using interest-free loans can minimize the cost of house flipping.

5. Free entry and exit of foreign exchange

Dubai has no control over foreign exchange, and foreign investors can freely enter and exit Dubai.

2. Rely on facilities

For high-end residences, they are generally equipped with swimming pools, saunas, gyms, children's playgrounds and other facilities. For apartment-style buildings, these facilities are generally built on the roof. , these facilities are free for owners to enjoy.

3. Rely on the environment

Residential areas are generally decorated with green spaces. Seawater is desalinated to produce fresh water that is more expensive than gasoline. Green grass, flowers and trees are cultivated through drip irrigation. In order to create a unique effect, Dubai used artificial reclamation to create an artificial island shaped like a palm leaf - Palm Island, and an artificial island shaped like a world map - World Island. Give people the opportunity to experience island life surrounded by sea water. This project is the Palm Island project known as the eighth wonder.

The Palm Island Project consists of 3 Palm Islands (Palm Jumeirah, Alishan Palm Island, Palm Deira) and 4 island groups on the World Island. It is planned to build 12,000 buildings. Private residences and more than 10,000 apartments, it also includes more than 100 luxury hotels and facilities such as ports, water theme parks, restaurants, shopping malls and diving sites. In addition, an underwater hotel, the world's tallest skyscraper, an indoor ski resort, and a main park the size of Dubai are also planned.

The islands in Palm Island are connected through underwater tunnels and can be connected by car. The Palm Jumeirah, which started construction in 2001, is one of the largest land transformation projects in the world and is expected to be fully completed in 2010. "Palm Jumeirah" will be built into a maritime city. The entire island can accommodate more than 60,000 residents. More than 50,000 service personnel are distributed in 32 hotels, dozens of shopping malls and amusement places on the island to provide islanders with a variety of services. Serve. The Dubai government estimates that Palm Jumeirah can attract 20,000 tourists every day, almost a two-to-one service. Most of the properties on the island were sold out five years ago. The owners include famous British stars Beckham and Owen, with the largest proportion being British. A handful of owners can now be seen taking up residence on the island. Currently, apartment prices on the island start at 30,000 yuan per square meter. The other two Palm Islands are still in the initial stages of construction.

The construction of the eye-catching "World Island" project began in September 2003.

In an area of ??9 kilometers long and 7 kilometers wide 4 kilometers off the coast of Dubai, 300 artificial islands will be built according to the graphics of the world map. All islands are named by geographical names, such as "China", "Britain", etc. The islands are approximately 50-100 meters apart, and helicopters and ships are used for transportation. Each island is submerged 16 meters underwater and 3 meters above the water. Prices vary depending on size and location. The smallest island is priced at $6.3 million, and the largest is priced at $37 million. The chairman of a developer in Zhejiang spent US$28 million to buy "Shanghai Island" with an area of ??about 30,000 square meters among the world's islands.

With attractive policies, supporting facilities and a unique environment, Dubai opens its arms to welcome investors from all over the world.