Dubai’s Stable Real Estate Market Attracts Pakistani Investors
The real estate sector in Dubai is growing day by day, and its stable real estate market is attracting Pakistani investors. “Dubai has always been an attractive place for Pakistanis to invest because of its strategic location and stability,” said Faisal Karim, Sales Director at DAMAC Properties. According to sources, Betterhomes‘ Dubai Residential Property Market Report, Q2 2023, showed that Pakistanis were the seventh largest buyers of Dubai properties in Q2 2023 as well.
According to Faisal Karim, the main reasons why Pakistani investors are attracted to Dubai real estate are:
- Dubai offers safety, security, luxury, a complete lifestyle, and modern living trends.
- There is no taxation on income, and the rental value of real estate is high, making it more attractive to investors.
- Dubai’s financial stability has attracted Pakistani investors as the Dubai currency does not fluctuate as the dirham and dollar are pegged.
- Most Pakistani investors interested in real estate in Dubai are usually in their 40s or older. Thus, people with families are interested in purchasing the most properties because they want their children to have a better future.
- Dubai handles the property closing process quickly compared to other countries, which takes around 2–3 months.
- Another major factor that has become the center of attention is that if you invest 2 million dirhams now with the Golden Visa, you can stay here with your family for about 10 years, including sponsoring your parents.
- Foreigners can live, work, or study in the UAE for up to 10 years with the Golden Visa, a long-term residency visa. The good news is that the Golden Visa rate has been reduced from AED 10 million to AED 2 million. This has made it more attractive to investors, and now it will be quite easy to access the Golden Visa.
- Mr. Karim said the government is “very conscious” and “very active” in looking after buyers.
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