Looking at it now, it’s hard to believe that Dubai started life as a small fishing village on the Arabian Gulf. Dubai is now regarded as one of the most advanced, beautiful, and cosmopolitan cities on Earth and is home to over 200 different nationalities.

If you’ve ever considered moving to Dubai or simply investing in the thriving property market, there has never been a better time than now.

Here are the top 5 reasons why you should consider investing in Dubai in 2023.

1. The Population Is Growing

A growing population is a great sign for investors. As the population grows, so too does the need for housing, planning, and infrastructure making it an ideal time for the savvy investor to make a move. In fact, data show that the current population of over 3.5M people is predicted to almost double in the next 20 years as more people head to the city.

Despite the impact of Covid-19, the population has already shown a steady increase in recent months.

With a steady rise in wealthy ex-pats moving out to Dubai, it makes for an excellent opportunity for the right investor looking to make significant profits.

2. The Economy Is Growing

Dubai is well-known for its impressive economy. As a midpoint between East and West, Dubai serves as a go-between for a lot of trade and business. It also acts as a base of stability for people looking to expand internationally. Dubai boasts multiple revenue streams, including trade and tourism, and is often considered the heart of business in the MENA region.

This increase in trade can be attributed to large capital investments in the area, which is a great sign for investors.

3. Dubai Leads Development And Innovation

With the backing of an abundant economy and growing population, housing innovation is of huge importance in the region. Dubai is home to some of the tallest buildings and largest airports in the world. It seems that Dubai is on a mission to be home to the best buildings and architecture around.

Couple that with the growing affluence, business growth, and cutting-edge industry, and it's not hard to see why Dubai attracts some of the wealthiest and smartest people around.

Dubai is also focused on the future with a commitment to balancing environmental, economic, and social needs with the intention of making every aspect of life simple and hassle-free so that residents can live their best lives. Droves of wealthy and idealistic people are already heading to the city, making it a great time to invest in the property market.

4. High Living Standards

Dubai is seen as one of the best cities to invest in due to its very high living standards. Infrastructure has been carefully planned to ensure that everyone has access to what they need. Dubai also features some of the best restaurants in the world, beautiful beaches, world-leading entertainment, and fitness venues, and the list goes on.

With all this highly-desirable infrastructure, you would expect Dubai to be overly expensive however it’s actually far more affordable than many other major cities. That means there is something to suit all budgets and tastes, making it an incredible opportunity for investors.

5. Golden Visa and Tax-Free Investments

To be eligible for a five-year visa, all you need to do is invest in property in Dubai. The investment property must have a value of 2 million AED. In case the property is mortgaged, at least 2 Million of property value must be paid to the bank.

The emirate of Dubai has no annual property tax, income tax, or capital gains tax, so it makes it one of the best cities to invest in real estate. There will only be one-time property transactions and registration fees to pay after a property is purchased, with no ongoing taxes.

As a result, Dubai's properties are highly affordable and lucrative compared to other major cities, where paying periodic taxes is mandatory.

You’re probably thinking that buying an asset in Dubai is complicated or too expensive… Well, here’s some good news for you.

Thrivestate is here.

Thrivestate is here to help you achieve your property goals in Dubai. Thrivestate is connected to all the best and biggest developers and currently has thousands of assets on its extensive database. Its smart algorithm will get to know you in a matter of minutes — all you have to do is answer a few simple questions.

It will then find assets that suit your needs based on budget, purpose, location, and other important factors, making the whole process effortless for you.

There will also be an expert Dubai real estate advisor ready to help you with all your questions and to take you through the onboarding process taking all the stress away so you can sit back and enjoy your investment.