In order to choose the most suitable destination for making an investment, it is necessary to evaluate and examine some factors such as economy, security and safety, development and progress, standards of living, tax, investment policies and etc. Here we want to find out which one is better for investment: Dubai or Turkey.
The factors that influence investment
One of the most important advantages of investing in Dubai is its fast-growing and burgeoning economy. Because of its strategic location between the East and West, Dubai is a leading regional hub for businesses that want to grow in one or both areas. Because of its developed and stable economy, with income produced from tourism to trading, it’s enticing and captivating international investors more than ever. Although Turkey has experienced good growth in the real estate market, it is experiencing great economic challenges such as collapsing lira, inflation, an unstable economy and some other economic problems that have negatively affected the economy of this country.
2.Development and Innovation
One of the most important and helpful factors that guarantee the growth of Dubai’s economy and population, is its modern developments and innovation ranging from the highest buildings to the biggest airports. Dubai is a leading center for technology and business development, continuously growing so as to develop an innovation ecosystem.
Creating a balance between environmental, economic, and social sustainability with a future-forward perspective, there are regular innovations and successes that convince foreign investors to invest in Dubai since the innovative city tries to make every facet of life trouble-free. Hence, you can always see and experience something innovative and modern, which is one of the greatest advantages of investing in Dubai. The speed of growth and development in Turkey is not comparable to Dubai. The innovative and creative projects are very low and cannot attract investors, entrepreneurs and innovators very much.
3.Standard of living
Dubai is universally acknowledged as one of the top cities to invest in because of its high quality of life and excellent infrastructure. With exceptional dining areas, a sumptuous lifestyle, gorgeous beaches, connectivity, and modern entertainment and leisure amenities, it is easy to understand why Dubai is a wonderful city for making an investment!
In terms of Dubai’s real estate, different developers have an evolving catalog, providing astounding properties, and growing in upcoming and favorable areas. Apart from that, one of its main advantages is its affordability in comparison with some other leading cities, which means that everyone with every budget can find a property to buy. The standard of living in Turkey is much lower than in Dubai. The lower employment rate, longer life expectancy, better healthcare services and lower inflation rate are just some factors that make Dubai a better option for investment than Turkey.
4.Safety and security
Dubai’s safety is one of the most important factors that attract investors. In addition to managing the universal covid-19 outbreak successfully, Dubai boasts of being one of the safest cities to live in since the crime rate is very low and it has an efficient legal system, due to its necessary security measures. With regard to the real estate market, there’s a strict regulatory framework with the intent of shielding an investor’s interests in Dubai. Dubai is also the most secure and governed property market in all of the MENA region, more enticing investors since they are certain that their investment is secure. Furthermore, Dubai’s property market is the only market that runs the lowest price bubble risk among 25 other universal cities. But the crime rate in turkey is not as low as in Dubai. Street robbery, pick-pocketing and other social misdemeanors are very common even in the biggest cities of Turkey.
If you want to purchase a property in Dubai, there is no need to be worried about tax, since Dubai does not impose any property tax, income tax, or capital gains tax. When a property is bought, owners are not required to pay extra or ongoing taxes in the future. Of course, this makes properties in Dubai very affordable and more significantly, profitable, compared to other main cities, where paying regular taxes is obligatory. This is one of the most desirable benefits of investing in Dubai for most investors since they can purchase a property in Dubai and be confident they are not required to pay a portion of their earnings! But paying tax in Turkey is mandatory and the buyer is obliged to pay the property taxes.
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One of the main advantages of investing in a Dubai property is that an investor can get a resident visa according to his property investment in Dubai. Those foreign investors who have an at least investment of AED 1,000,000 for a freehold property in Dubai can use this right, considering that the property is prepared and not under a mortgage. As non-UAE citizens are also permitted to completely own property in Dubai without the requirement for a domestic partner, the city noticed an unprecedented rise in construction, drawing international investors into the city’s real estate sector. The diversity and the number of investment opportunities in Dubai are more than in Turkey.
7. Returns on investment
Real estate in Dubai generates a high return on investment, extremely higher than those provided in similar cities, such as London and New York. In fact, it’s a pleasant and enriching experience since Dubai always has appealing properties in popular areas which generate amazing returns. Investing in a Dubai property could possibly create a high return on investment because of property tax exemptions. Providing one of the highest returns on property investment, investors can get exceptional returns in key areas.