Off Plan Property in Dubai - your gateway to Tax Heaven!
How do you earn your living? Although this might sound like a very intrusive question, it is one of the most relevant ones in the 21st century. Back in the days when our previous generation was living the glory days of industrial expansion life was different. Jobs were abundant and the cost of living was less. But after inflation and multiple global recessions, earning through only one mode is just not enough. Investments and tax savings are smart modes of side incomes in this day and age. And buying Off-Plan property in Dubai is a double jackpot, in this case, being a great investment and a tax saver.
Firstly, we need to understand what is indeed Off-plan property? And what is so special about Off-Plan Property in Dubai? Off-Plan property is a piece of real estate which is not yet ready for possession. This can mean anything from before construction to the pre-possession stage. Off-Plan properties are essentially real estate projects which are incomplete as of then. And due to this incomplete status, they are offered on the market for a value way lower than their actual one. This is primarily done for two reasons, firstly because there is no concrete possession to give, the value is marked at a lower price to attract buyers. Secondly, these initial buy-ins work as capital for developers who can then fund their project through these purchases, hence the lucrative price point.
Why invest in Off Plan Property in Dubai?
Off-plan property in Dubai is a very lucrative mode of investment for both citizens and foreign nationals. Because Dubai’s real estate market and governmental tax regulation both make for a favourable investment climate. Due to its highly mature real estate market, the initial investment in the off-plan property is bound to increase multifold. This provides your money with a high return on investment. Moreover, the Dubai government considers investments in real estate as a tax write off. Thus, investing in Off Plan property in Dubai not only give you a huge discount on the final price but also help you save your taxes.
Now you may have concerns regarding the usage of such property. Like other liquid assets, investment in real estate cannot immediately be turned into money. It takes time to find potential buyers and sell them of at the right price. However, there are other ways of utilising your investment. If you are not using the piece of real estate as your residence, you can put them up for rent. Dubai being a confluence of culture and corporations, the demand for real estate is always high. Therefore you can get a tax free income through the high rental yields. And the most profitable way to do it is by renting it out to either tourists or expatriates. The chances of squatters decrease significantly when the possession of rent keeps on changing.
Types of Off Plan Property
One of the most favoured Off plan property in Dubai is villas and apartments. Esteemed real estate companies like MAG, Nakheel, Damac, Emaar, e.t.c have a variety of off-plan projects throughout the city. These real estate companies have produced some of the best apartment buildings in Dubai. Moreover, they are developing new neighbourhoods everyday and turning them into dynamic communities. Villas and houses created b them in places like the damac hills and the Palm Jumeirah are becoming fast favourites of everyone.
Depending on your goal and budget you can either choose to invest in an apartment or a villa. Either way your investment shall remain in a profit. Top Line Real Estate Brokers bring to you a wide range of off plan property in Dubai. From luxury villas & apartments to beautiful penthouses, there is everything for everyone. With their experienced service and expert guidance, saving taxes and owning a dream home in dubai, both are a reality! So, don’t wait and starting earning through multiple modes of income and join the smart revolution of 21st century.