i am interested in the DUBAI market - does your analysis cover Dubai
Member since 2024 · 1 post · 0 votes
i am interested in the DUBAI market - does your analysis cover Dubai
Most Popular Reply
Real Estate Agent · Dubai · Member since 2024 · 9 posts · 2 votes
1yQuote from @Raju Penmatcha:
Quote from @Michael Zimeri:
Hi Marise,
This is Michael from Coldwell Banker UAE.
I have been in the BiggerPockets community for a few weeks now and from what I have seen is that this community and tools are mostly oriented towards the US market.
Regarding analysis for Dubai, I would more than gladly guide you through the Dubai market if you wish!
Hello @Michael Zimeri, how is the Dubai market now for US investors?
Well it is an exciting market with lots of future developments happening, all aligned with the popular Dubai 2040 vision.
As for how the market is for US investors, there is no local tax on capital gains, or tax on rental income. However, my US investors are required by the IRS to report it. Another factor that works well with US investors is that the local currently AED (Dihram) is pegged to the USD at 3.67~ AED per 1 USD.
For long term rentals, its on average 5-8% after the “Service Charge” reduction. You can find properties that can surpass or stay below the average as well.
As for the overall market panorama, there are huge projects planned or under development. Exciting for Capital Appretiation. Just to mention a few:
- Wynn Casino (First Casino in the GCC states) in Ras al Khaimah
- Al Maktoum International Airport (set to become the worlds busiest airport)
- Palm Jebel Ali (the second palm bigger and more luxurious)
- Expo City (Regions largest exhibition center)
Its a lot of information but I believe it gives a simple explanation to the complex market here.
Let me know if you would like to know more about the market and if you would need guidance into exploring the possibilities here!
Have a great day!
5 Replies
- Real Estate Agent · Dubai · Member since 2024 · 9 posts · 2 votes2y
Hi Marise,
This is Michael from Coldwell Banker UAE.
I have been in the BiggerPockets community for a few weeks now and from what I have seen is that this community and tools are mostly oriented towards the US market.
Regarding analysis for Dubai, I would more than gladly guide you through the Dubai market if you wish!
- 2yAaron BreckenridgePro MemberTechnology · Dallas, TX · Member since 2022 · 489 posts · 312 votes
Quote from @Marise Sfeir:
Hi
i am interested in Dubai Market for investing and Airbnb, does Bigger pocket cover Dubai Market will i benefit from your tools and offerings or not?
Yep, we're pretty much US-only.
- Rental Property Investor · Member since 2021 · 19 posts · 9 votes1y
Quote from @Michael Zimeri:
Hi Marise,
This is Michael from Coldwell Banker UAE.
I have been in the BiggerPockets community for a few weeks now and from what I have seen is that this community and tools are mostly oriented towards the US market.
Regarding analysis for Dubai, I would more than gladly guide you through the Dubai market if you wish!
Hello @Michael Zimeri, how is the Dubai market now for US investors?
- Real Estate Agent · Dubai · Member since 2024 · 9 posts · 2 votes1yHi Saju,
Quote from @Raju Penmatcha:
Quote from @Michael Zimeri:
Hi Marise,
This is Michael from Coldwell Banker UAE.
I have been in the BiggerPockets community for a few weeks now and from what I have seen is that this community and tools are mostly oriented towards the US market.
Regarding analysis for Dubai, I would more than gladly guide you through the Dubai market if you wish!
Hello @Michael Zimeri, how is the Dubai market now for US investors?
Well it is an exciting market with lots of future developments happening, all aligned with the popular Dubai 2040 vision.
As for how the market is for US investors, there is no local tax on capital gains, or tax on rental income. However, my US investors are required by the IRS to report it. Another factor that works well with US investors is that the local currently AED (Dihram) is pegged to the USD at 3.67~ AED per 1 USD.
For long term rentals, its on average 5-8% after the “Service Charge” reduction. You can find properties that can surpass or stay below the average as well.
As for the overall market panorama, there are huge projects planned or under development. Exciting for Capital Appretiation. Just to mention a few:
- Wynn Casino (First Casino in the GCC states) in Ras al Khaimah
- Al Maktoum International Airport (set to become the worlds busiest airport)
- Palm Jebel Ali (the second palm bigger and more luxurious)
- Expo City (Regions largest exhibition center)
Its a lot of information but I believe it gives a simple explanation to the complex market here.
Let me know if you would like to know more about the market and if you would need guidance into exploring the possibilities here!
Have a great day!
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