Any country has its advantages and disadvantages - the United Arab Emirates is no exception. If you are a highly qualified professional and need a well-paying job that matches your qualifications with great career prospects, then the Emirates can be a great option for you. If you have always dreamed of living in a beautiful place by the sea, then the UAE is your destination too. Here you can make your dream of living in a luxurious seaside city come true. However, before making your final decision, you need to carefully study the pros and cons of living in the UAE as an expat.
Emirates.Estate has prepared a guide that will tell you what the advantages of living in the UAE are, as well as the advantages and disadvantages of buying real estate in the UAE.
Table of contents
- Advantages of living in the UAE
- Pros of buying real estate in the UAE
- We will help you choose the best property in the United Arab Emirates
Advantages of living in the UAE
The advantages of living in the UAE include the following:
- It has a stable and well-developed economy. Prices for products and services remain the same because the local currency rate has not changed for several years. Foreign investors in the United Arab Emirates are attracted by a friendly taxation system; therefore, the economy of the country and emirates is well-financed and new jobs are created, contributing to the development of all economic sectors.
- The local tax policy is probably the most important advantage for those who plan to run a business in the UAE. Only foreign banks and companies that extract oil, natural gas, and other minerals are obliged to pay taxes. If your company works in any other spheres, then you do not have to pay taxes.
- Great opportunities for foreigners. About 10,000,000 people live in the United Arab Emirates and 70% of them are nationals of other countries. Foreigners are offered great job opportunities and high salaries especially if you are a top-level specialist. The average salary in the UAE is about $4,000-7,000 per month. In addition, an employee is provided with profitable medical insurance and rental housing from the company. Moreover, many companies provide employees with cars, trips back home and many other bonuses.
- Healthcare. The UAE invests plenty of money in the healthcare sector which means that doctors use the latest technologies. Because of this, medical care in the country is one of the best in the world and free for locals. Expats working in the UAE receive annual healthcare insurance, the cost of which depends on the type of coverage offered.
- Safety (low crime levels). Sharia law is in force in the United Arab Emirates so the streets are much safer than in other countries. In a list of countries considering safety levels compiled by Global Finance at the end of 2019, the UAE placed 21st. Video cameras are installed throughout the cities to register any crime so you do not have to worry about a stolen car, for example.
- Developed tourism sector. The UAE government is doing everything possible to make both locals and tourists feel comfortable. They equip beaches and open many entertainment and shopping centers so people from all over the world come here. Dubai, for example, is visited by more than 10,000,000 people every year, bringing a good income to the city.
- Cheap cars. There is a huge number of cars in the Emirates as their prices are low. If a car is more than 3 years old, it is considered old and replaced with a new model. Another reason why people change their cars so often is that the process of buying and selling a car is very simple.
Pros of buying real estate in the UAE
What are the pros of buying real estate in the UAE? Let's take a look at them.
The United Arab Emirates is one of the most progressive countries in the world. People of different nationalities choose this country to relocate to. Wealthy foreigners choose this country as an investment destination due to the local tax policy. However, when investing in an apartment in the UAE, you need to not only take into account the general standard of living and economic indicators but also evaluate the local housing market. In addition, for those who are going to live in the country permanently, it is important to take into account factors like the climate, for example. Additionally, those who wish to receive rental income need to take into account how attractive a particular city and neighborhood is for expats and tourists.
For example, in Dubai and Abu Dhabi there is well-developed business activity and a good transportation system but the weather there - as it is for the whole country - is incredibly hot. Local authorities advise not to stay in the sun in warm weather for more than a few minutes.
On the other hand, the seawater temperature rarely drops below +25 degrees Celsius which is a great advantage for those who like to swim. A year-round summer, comfortable beaches, and remarkably developed urban infrastructure make the UAE a popular destination for tourists and expats.
When it comes to transport accessibility, it is important to note that the United Arab Emirates is located at the crossroads of trade routes from Africa, Europe and Asia. The geographical position of the country is incredibly advantageous; therefore, Dubai is a place that investors from all over the world choose to run a business. This also makes property offers popular among foreign investors and professionals.
All of the above means that investing in UAE real estate is favorable as the owners of residential and commercial properties can always rent out or resell them at a higher price.
Buying real estate in the UAE: are there any cons?
Property owners in the United Arab Emirates live in their apartments permanently or stay there during business or holiday trips. In addition, they rent them out or resell them to make a profit. Overall, this means there are many advantages to buying real estate and no disadvantages.
We will help you choose the best property in the United Arab Emirates
Find your dream house for sale in the UAE today! Emirates.Estate has collected the best properties for sale in the United Arab Emirates! Our experts will help you find and buy your dream apartment in the United Arab Emirates as well as arrange the paperwork. Emirates.Estate makes buying an apartment in the UAE as safe and easy as possible.