This is the best opportunity to invest in property because property rates are going to increase even more in the coming time, so if you are thinking of buying a property in Gurugram, then let us tell you that you will get cheaper property than here in Dubai. Will be found in Let us know the complete news in detail
The United Arab Emirates (UAE) has relaxed the rules of Golden Visa for Indians. Now it has become easier for Indians to settle in Dubai, because rules have been made to provide them all the facilities. There are many Indians who are thinking of investing outside the country. It is important for such people to know the property market of Dubai and the rental rates there.
In fact, after the Corona period, property rates are increasing rapidly not only in India but all over the world. In many cities, property prices have doubled. In India itself, property rates are increasing every month in locations like Noida and Gurugram. Therefore, if you are planning to buy property in Dubai, then in many ways it will be cheaper than Gurugram. Not only this, the rental price in Dubai is quite high, so if you buy a property and put it on rent, you will get a good amount of money every month.
What is the condition of property in Dubai
CBRE had recently released a report saying that in 2023, property rates in Dubai will increase at the rate of 18 percent annually. That means, if the price of a property in 2022 was Rs 1 crore, now it has become Rs 1.18 crore. Here property rates are increasing every month. In June, its price had increased by 16.9 percent compared to last year.
What are the rates of apartments and villas
The average price of apartments in Dubai has increased by 18.5 percent to reach 1,320 billion dirhams (Rs 29,946) per square foot in the year 2023. At the same time, the price of villas has also increased by 16.2 percent to 1,552 billion dirhams (Rs 35,209) per square foot. If we look at the figures of the last one year, property prices in South Dubai have increased the most by 70 percent. At the same time, on an average, property rates across Dubai increased by 5 percent in the third quarter.
What is the situation in Gurugram
In Gurugram, which is one of the hottest property sectors of the country, property rates have increased by 14.9 percent in 2023. The average rate here is Rs 7,400 to Rs 7,550 per square foot. If seen on quarterly basis, its rate has increased by 6.1 percent in the third quarter as compared to the second quarter. If you are thinking of investing in a posh area like a golf course, then the price of property in Sector 42 has increased by 44.1 percent. At present, property is being sold here for Rs 45,000 to 47,000 per square foot.
Gurugram is one and a half times more expensive than Dubai
If seen from this perspective, the rate of a luxury property in Gurugram is also about 50 percent more expensive than the property in Dubai. While in Dubai you can get a villa at a price of Rs 35,209 per square foot, in Gurugram you will have to spend Rs 45 thousand per square foot for an apartment. If seen from this perspective, on an average you may have to spend Rs 10,000 more per square foot.
You will get huge rent, you will earn a lot
Anarock had said in a recent report that the rent of residential property in Noida and Gurugram has increased by about 23 percent on an annual basis. While in Noida the monthly rent for a 2 BHK apartment has reached Rs 25 to 30 thousand, in Gurugram one will have to pay Rs 30 to 35 thousand every month.
If we talk about rent in Dubai, according to CBRE, here too the residential rent has increased by more than 22 percent. Apartment rent has increased by 21.9 percent and villa rent by 22.6 percent. If we look at the price, the rent for an apartment is around Rs 23 lakh per annum, whereas for a villa you will have to pay Rs 60 to 70 lakh per annum.
What do experts say
Pradeep Mishra, an expert in property matters, says that in a city like Gurugram, in reality, there is not as much hype about property as is being built. If someone is thinking of investing outside the country then Dubai can be a good option. Currently, Dubai’s property market has become a hot spot for the whole world.
The way Dubai has developed itself is an example for the whole world. There is no doubt that being a global market, property rates there will not only increase rapidly, but you can also earn good income from rent.
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