Did you know that foreign investors who buy Office Dubai have to pay no taxes on their profits? What Reason why so many people are pouring money into Dubai real estate?
Focus on future growth
Let’s take a look at the economics behind Dubai’s real estate industry and why some experts think it will soon be the most successful and prosperous city on the planet what started out as a simple fishing village has grown in leaps and bounds in the past few decades.
Improvement in real estate market regulation
A big part of that has been the rapid growth in the real estate economy but the way is not content to stop there they are determined to take the last 30 years of incredible growth and build on it literally and figuratively. They recently released their Dubai urban master plan which searches out goals for the next 17 years.
Particularly when it comes to housing and real estate among these his stated goals are the development of five new urban centres and 1.7 billion square speed of land. Land being dedicated to economic and industrial activities they are also looking to have an integrated housing plan that offers high standards of living for all its citizens for the next 20 years.
They also warned the population to grow by nearly 6 million people and at least 55% of them to live within 800 meters of a public transport station by connecting its five primary urban areas by the substantial corridor.
Dubai 20 minutes
This is part of their goal to make Dubai so-called 20 minutes. That means that ideally, citizens are no more than 20 minutes away from their intended destination in the city by foot or by bike no matter where they start. Property valuation firms in Dubai are also a goal of establishing what they’re calling a comprehensive and flexible law to promote and grow substantiality in new buildings and that's on top of their already impressive substantiality standard for new construction. They are also looking to more than double their recreational and green areas in the city and London their public beach space by 400% and a big part of the real estate success in Dubai for the last 20 years.
The major reason for rapid growth has been the affordable housing complexes and government-aided schemes. The coming years would be interesting as we observe an increase in GDP per capita higher disposable incomes expanding urbanization. This gives rapid growth in the economy of Dubai’s real estate.
