Buying property in Dubai is 100 % safe. The Dubai government along with the relevant regulatory organizations have gone above and beyond to ensure buying in the city is not only safe but attractive for all those interested.
Yes, foreigners of all nationalities can purchase property in any of Dubai’s designated freehold areas.
Houses in Dubai are in some cases expensive. The city is a global hub and full of luxurious properties so this is hardly surprising. With that said Dubai does have its fair share of low cost and medium income options.
The official currency of Dubai and the UAE is the UAE Dirham. The dirham is pegged against the US dollar with a fixed exchange rate of 1 USD = 3.66 AED. This means that the value of the dirham is always stable against the dollar making it one of the safest currencies to do business with.
It’s a well-known fact that Dubai is a tax-free haven with no income tax whatsoever. In fact, it’s a big reason why so many expats choose to move to Dubai in the first place.
What is less know however is that being and/or selling Dubai real estate is also free from any tax. This means that if you were to purchase a property for say AED 1m and sold the same property for AED 2m 10 years later there would be no tax payable on the 2m sales price or the 1 million in capital growth. This applies to both owner-occupied and investment properties.
In addition to no capital gains tax, any income generated from a property in Dubai is 100% tax-free. This is greatly attractive for buy to let investors and a scenario investors in most other countries could only dream about.