Dubai's real estate market is experiencing a surge in interest from wealthy Indian investors seeking attractive returns, diversification, and lifestyle enhancements. The city's tax-friendly environment, ease of doing business, high rental yields, and the Golden Visa program are key factors driving this trend.

LRS Remittances Soar

Data reveals a significant increase in remittances from India to Dubai under the Liberalized Remittance Scheme (LRS), with a 17% rise in FY24. This highlights the growing appetite for overseas real estate investment among affluent Indians.

Dubai's Golden Visa: A Major Draw

The UAE's Golden Visa program, offering long-term residency to property owners, is a significant attraction for Indian investors. Owning a property worth at least 2 million dirhams (approximately Rs 4.5 crore) grants eligibility for a renewable Golden Visa without requiring a sponsor.

Factors Fueling the Trend

Several factors contribute to Dubai's appeal:

• Tax Benefits: Dubai's tax-free environment makes it an attractive destination for investment.

• High Rental Yields: Rental yields in Dubai are typically higher than those in Indian metros, making it an appealing option for generating income.

• Ease of Doing Business: The streamlined process of buying property in Dubai, requiring minimal paperwork, appeals to busy investors.

• Luxury Lifestyle: Dubai offers world-class amenities, luxurious living options, and a vibrant cosmopolitan atmosphere.

• Global Hub: Dubai's strategic location and connectivity make it a global business and travel hub, offering access to international opportunities.

The Buying Process

Acquiring property in Dubai is relatively straightforward, requiring only a passport copy for both ready-made and under-construction properties. However, securing financing can be challenging, as loans are not readily available, and cash payments are the norm.

Conclusion

Dubai's real estate market offers a compelling proposition for wealthy Indian investors seeking attractive returns, diversification, and a luxurious lifestyle. The Golden Visa program, tax benefits, and ease of doing business further enhance its appeal. As Dubai continues to position itself as a global hub, it's likely to remain a sought-after destination for Indian real estate investment in the years to come.

-source: findia.indiatimes.com