Ever imagined or dreamt of owning a luxury home in Dubai? Well, it is the dream of a lot of people out there, including us. But a shortage of funds keeps the dream incomplete. Now, some people do gravitate towards crypto trading, so they tend to put their funds in crypto assets. And to purchase a luxury home, you need real-time money. However, what if we tell you that times have changed, and so has the payment method? Don’t believe us a bit? Well, count on us to inform you about all the accurate policies. As per the latest update, people can now buy luxury properties in exchange for their crypto holdings.
Reasons for using Bitcoin for property purchase
Quick And Simple
Bitcoin payments are quicker than those made through conventional banks. There are no lengthy wait times, fewer middlemen, and less paperwork. Your transaction is completed almost immediately after the deal is confirmed.
Local Investment and Global Currency
Bitcoin is a worldwide currency. You can use your cryptocurrency wallet to purchase real estate in Dubai from anywhere, including London, Lagos, and Los Angeles. Currency conversion and dealing with delays in international banking are not necessary.
Reduced Fees and Greater Privacy
Transaction fees for cryptocurrency payments are typically lower than those for conventional bank transfers. Additionally, transactions may be more secure and private depending on the platform.
Why purchase Dubai Properties?
Now, you must be thinking, why are we talking about investing in Dubai Properties only? If you are wondering the same, take a glance at the points stated below:
Thriving Real Estate Market
Presently, the property prices have undergone major escalation and too of the properties situated in the famous or popular areas of Dubai. The areas such as Palm Jumeirah, Downtown Dubai, and Dubai Marina. For whatever purpose you’re buying it for, you are likely to earn good profits.
No Tax Policy
As per the rules, Dubai does not impose any capital gain tax on the buyers. And if in upcoming future the value of your property appreciates, then you’ll get to keep 100% of your profit.
High Rate of Return
The rental return rates in Dubai can vary between 6% to 10% a year. This number is much higher than any other surrounding major cities. Thus, who would want to miss out on all these benefits, and that too willingly?
Opportunity for a Golden Visa
You might be eligible for a three-year residency visa if you invest a specific amount in real estate, such as AED 750,000 or more. You can obtain Dubai’s renowned 10-year Golden Visa with larger investments.
A Modern and Safe City
Dubai is opportunity-rich, safe, and clean. It’s a fantastic place to live, work, or travel because of its first-rate infrastructure, schools, hospitals, and entertainment options.
What kind of Properties to buy?
Buyers in Dubai can go for several types of properties, as per their requirements:
- Luxury apartments can be found in places like Business Bay or Downtown Dubai.
- Villas, particularly in areas like Dubai Hills Estate and Palm Jumeirah
- Townhomes are reasonably priced and ideal for families.
- Off-Plan Projects, you can purchase in advance to take advantage of reduced costs before completion.
- Commercial spaces include retail stores or offices used for business.
Bitcoin and other cryptocurrencies are now widely accepted as payment methods by developers and agents. Some even provide cryptocurrency buyers with exclusive offers and discounts.
Note – You can check out Danube Bayz 102 for purchase.
Things to Remember
Changes in Bitcoin Prices: Cryptocurrency is notoriously erratic. When making a purchase, be sure to lock in a price to prevent having to pay more if prices drop unexpectedly.
- Use Reliable Payment Platforms: When converting Bitcoin to AED, always deal with safe and reputable payment processors.
- Legal Advice Helps: Although the procedure is straightforward, it is advisable to speak with a financial advisor or legal specialist to fully comprehend the specifics.
- Not All Developers Accept Crypto: Before choosing a seller or developer, find out if they are crypto-friendly.
Is Now a Good Time to Invest?
Indeed! The market for real estate in Dubai is expanding, and cryptocurrency is gaining traction. Crypto investment is now safer and more transparent thanks to new rules from the Virtual Assets Regulatory Authority (VARA) in the United Arab Emirates.
The demand for real estate is increasing as a result of the relocation of major tech startups, Expo City Dubai, and multinational corporations. You can ride this wave early if you take action now.
Concluding Thoughts!
Putting your Bitcoin into Dubai real estate is now a wise financial move rather than just a hip concept. Dubai real estate meets all of your needs, whether you’re searching for long-term growth, a vacation home, or passive income. Additionally, using cryptocurrency demonstrates that you are among the new generation of investors influencing the future.