Dubai recorded over 100,000 real estate transactions Top 10 Reasons to Buy Freehold Properties in Dubai 2024

In 2023, Dubai recorded over 100,000 real estate transactions, a 37% increase from the previous year, with a total transaction value surpassing AED 300 billion. Residential property prices rose by about 7% year-on-year, with average prices hitting AED 1,708 per square foot for apartments and AED 1,693 for villas. Rental yields remain attractive, averaging 8% to 10% (based on data sourced from Property Monitor).

Dubai’s economic stability, tax-free status, and high quality of life continue to draw foreign investors and high-net-worth individuals. The luxury property segment, particularly in areas like Palm Jumeirah and Downtown Dubai, is booming. Technological innovations like blockchain-based transactions and virtual tours are enhancing market transparency and efficiency. Additionally, sustainable and smart developments are attracting environmentally conscious buyers.

With approximately 30,000 new residential units set for delivery in 2024 and the anticipation of Dubai 2040 Urban Master Plan (20-minute city initiative), Dubai’s property market is prepared for continued growth. If you’re looking for a transformative investment opportunity, Dubai’s freehold market is ready to deliver. Are you ready to seize it?

If you’re serious about maximising your investment potential, Dubai’s freehold property market in 2024 is where you need to be. Investing in Dubai’s freehold properties today could yield returns that outpace most global real estate markets within the next decade.

The Benefits of Buying a Freehold Property in Dubai

1. Safety and Quality of Life

Dubai ranks as the 4th safest city globally. Its law enforcement agencies, including the Dubai Police, are known for their efficiency and proactive measures in ensuring public safety. The city employs advanced technologies and surveillance systems to monitor public spaces, prevent criminal activities, and swiftly respond to emergencies.

Moreover, Dubai's focus on security links with its prosperity, as evidenced by its status as the home to 72,500 resident millionaires. This unbelievable figure made Dubai one of the wealthiest cities worldwide, proving how safety and economic prosperity are connected. The emirate’s influence extends beyond financial opportunities offering a place where people can thrive, and their peace of mind nurtured by security infrastructure.

2. Tax-Free Environment

Dubai’s 0% property tax policy provides a significant financial edge over other major real estate markets. The absence of property tax enables investors to achieve higher net returns up to 10%, making Dubai an exceptionally attractive destination for real estate investment. This financial benefit extends beyond property investments. Dubai also offers 0% income tax, further encouraging people to live and invest in Dubai.

3. Golden Visa

Dubai Golden Visa program offers an exclusive opportunity for property investors to secure residency benefits. By investing in Dubai freehold property with just AED 50,000, you can qualify for this visa, granting you long-term residency in the UAE. These include residency across all seven emirates, access to top-tier education, healthcare facilities, and more, making it a compelling option for those seeking a stable and rewarding investment.

4. Freehold Ownership Rights

Buying properties in Dubai as a foreigner has never been easy. One of the most attractive features of Dubai's real estate market is its freehold ownership framework. Foreign investors can enjoy full ownership rights of properties in designated freehold areas, offering security and flexibility. According to data from Dubai Land Department, freehold transactions accounted for 68% of total property transactions in 2023, reflecting strong investor confidence in this ownership model.

5. Strategic Location

Dubai's strategic location as a bridge between Asia and Europe has been instrumental in shaping its diverse culture. The city's geographical position has made it a natural meeting point for people from all over the world, contributing to its significant expatriate population. People from over 200 nationalities live and work in Dubai, making it a truly cosmopolitan city. This diverse expatriate population means that there is a demand for property investment in Dubai for foreigners from luxury villas and apartments for sale to the best real estate investment in Dubai. This diversity allows investors to choose from a wide range of property investment options based on their budget and investment goals.

6. Infrastructure Development

Dubai's continuous investments in infrastructure boost its attractiveness to investors. Major projects like Expo 2020 Dubai and Dubai Metro expansion drive demand for real estate, particularly in adjacent areas. Infrastructure-led developments stimulate capital appreciation and rental growth, offering lucrative opportunities for investors.

7. Return on Investment

Dubai's real estate market offers investors an impressive return on investment, with rental yields typically ranging from 8% to 10%. This outperforms prime areas in cities like London, New York, and Tokyo, where yields often hover around 3% to 6%.

One key factor driving this ROI potential is Dubai's flexible payment plans. These plans, particularly those offering post-handover payment options, have developed property ownership in Dubai. They allow buyers to start earning rental income or enjoy the property's benefits immediately, all while still paying for it and retaining ownership. This accessibility not only makes property ownership more attainable but also enhances the property's income-generating potential.

8. Economic Resilience

Dubai's economy has demonstrated remarkable resilience, even amid global uncertainties. According to the Dubai Statistics Center, the emirate's GDP expanded by 5.6% in 2023, going beyond the average worldwide. This economic performance is underpinned by diversified sectors such as tourism, trade, finance, and most especially real estate in Dubai, ensuring a stable investment environment.

9. Favourable Regulatory Environment

Dubai's investor-friendly regulations contribute significantly to its appeal as a global investment destination. The introduction of laws such as the Dubai Real Estate Regulatory Agency (RERA) and the Dubai Land Department's online portal modernise property transactions and enhance transparency. These measures reinforce investor trust and lessen risks, adopting an advantageous investment climate.

10. Sustainable Development Initiatives

Dubai's vision towards sustainable urban development is driving long-term value in its real estate market. Initiatives like the Dubai Clean Energy Strategy 2050 and the Dubai 2040 Urban Master Plan emphasize sustainability and innovation, attracting environmentally conscious investors. As per records, sustainable properties in prime locations command premium prices and offer higher rental yields, making them profitable investments.

With Dubai’s staggering number of resident millionaires, centi-millionaires, and billionaires, coupled with its globally known architectural wonders and exclusive living experiences, there has never been a better time to invest in the Dubai freehold market. Why wait? Reach out to AQUA Properties today.

2024 Best Real Estate Investments in Dubai

About Us

AQUA Properties is a multi-award-winning real estate brokerage and developer in Dubai with solid reputation for trust, reliability, and expertise. We offer end-to-end property services across all property types and sectors including property marketing, brokerage, leasing, property management, project planning, and development, contracting, homeowner's association, and the most exciting one by far - Global REIT, the world's first-ever blockchain-based REIT.

AQUA Properties has successfully sold over 10,000 properties, showcasing their extensive market reach and credibility. With over 15,000 properties rented, of which a significant number of landlords using our Property Management services, AQUA Properties has a proven track record of satisfying both landlords and tenants. We excel at connecting landlords with reliable tenants while helping tenants find the perfect spaces to call home or establish their businesses. This dual approach highlights our tailored services that meet the unique needs of both sides of the rental market. Whether you are looking for a place to create your ideal home or just a good investment opportunity, AQUA Properties is a full-service real estate company providing clients personalised and valuable up-to-date market data and trends.

Contact us today for a free property consultation.