The real estate sector offers promising growth prospects in the medium and long term. The average annual return on real estate investments reaches approximately 8%; The expected revaluations are 25% to 50% and the floor amount is USD250,000.
Recently, the news was announced that another famous Latino, Brazilian soccer player Neymar, has invested more than $55 million in his new home in Dubai, in a luxurious apartment in the Bugatti Residences Binghatti tower.
Definitely, for several years Dubai has been one of the favorite destinations of celebrities, visited by Will Smith, Justin Bieber, the Kardashians and Maluma, among others. They love this destination, but also invest in these lands, as Victoria and David Beckham and Giorgio Armani (in Burj Khalifa, the tallest hotel and building in the world), Madonna (mansion on The World Island), Roger Federer (Burj Al Arab), or Lindsay Lohan (in a 4-bedroom villa), among others.
From Thorne Global Real Estate LLC, a company run by the Latina woman, Vanina Poplavsky, they made a report with the 5 aspects why they choose to invest in Dubai.
1.Security and privacy. You can calmly walk through the Dubai Mall, visit Burj Khalifa, in the middle of a country with respectful people, calm, friendly, without crowds and in complete safety.
2. Unique activities. It is a small city but with permanent events and at reasonable prices, such as seeing the city from above and walking on a glass floor, for only USD14.
3. Language. It is an ideal place to study or practice English. Although the official language is Arabic, the growth of Dubai is so great that English has already become the second language.
4. Multicultural. Something like what is happening in Miami is beginning to be seen in Dubai. That is why it was called the most cosmopolitan society, and with people from all over the world.
5. Climate. Mainly in the winter season in Europe or America, it is very good. And you can appreciate its clean streets, buildings, shops and attractions, full of luxuries and eccentricities. Also visit its beautiful white sand beaches, turquoise sea and warm water.
“The demand for properties in strategic locations has driven a boom in annual rental returns, in addition to the revaluation of “offplan” projects (properties in the development phase), an attractive modality for its interest-free payment plans, offered directly. by the developers,” said Vanina Poplavsky, CEO of Thorne Global Real Estate LLC.
The areas in Dubai such as Creek, Dubai Hills, JVC, JVT, Sport City and the usual emblematic areas are the areas that we offer the most but today projects are also beginning to resonate in other Emirates that are undoubtedly copying the successful Dubai model with all the perspective and security that this generates in investors. And off-plan projects have direct financing from the developer and without interest.
The standard of living for a middle class, as we know it in Latin America, is not at all more expensive than in Europe or the USA, perhaps the lower value in outings, hiring of domestic staff, rents and car leasing is actually compensated with perhaps higher payment in private schools, but the result is that you spend the same or a little less while living a quality of life and security in every sense that cannot be compared with those other jurisdictions.
This allows investors to not only earn immediate rental income, but also benefit from the increase in value of their assets over time. “The average annual return on real estate investments reaches approximately 8%,” said Poplavsky, who offers his clients legal, commercial, tax and tax compliance advice, among others, to complete their investment projects.
According to his projections, an encouraging outlook is expected in Dubai in the coming years, “with an expected revaluation of between 25% and 50% annually in some key developments.” This responds to both population growth and the urban transformation of the city, which includes innovative projects in high-potential areas such as Sport City, Jumeirah Village Circle (JVC) and Jumeirah Village Triangle (JVT).
To establish a business in Dubai, Poplavsky said a minimum investment of $15,000 is required, a figure that covers the basic registration procedures and obtaining a business visa if necessary. However, this amount does not include the backup capital that may be necessary depending on the type of company and its sector. “As for real estate investment, the floor is around $250,000, allowing access to properties in emerging areas and in full development,” he noted.
For Latin American investors, access to the Dubai market is simple: anyone, regardless of residence, can invest in properties in the emirate. Local laws allow foreigners to make investments without requiring a visa or permanent residence.
A recent study carried out by Thorne Global Real Estate showed that the ranking of Latinos who invest in Dubai is led by Colombians, with 45%; followed by Argentines, with 25%; Mexicans, with 20%; and Chileans, with 10%.
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