Hello, everyone! We're here to provide some crucial insights on the recently released guidelines by the Identity and Citizenship-United Arab Emirates (ICP). This will particularly be of interest to our Dubai-based clients who have been staying abroad for extended periods. According to the ICP, Dubai residents with a Golden Visa are exempt from these requirements. For others, however, a permit will...
Dubai's thriving real estate market continues to set impressive records as it posted a remarkable AED2.7 billion ($735 million) in property transactions on Monday alone, as shown by the latest data released by Dubai's Land Department (DLD). This extraordinary figure is a testament to Dubai's resilient and vibrant real estate industry, underpinning its reputation as a global hub for property...
Are you itching for an investment venture in the City of Gold? Dreaming of a property with views of the Burj Khalifa, or a palatial villa overlooking the ocean? Well, dear readers, fasten your seat belts as we embark on a journey through Dubai's most desirable real estate communities. You're in for an intoxicating blend of statistics, opulence, and potential returns on investment (ROI) - everything a...
The UAE, known for its vibrant real estate market, has just seen a significant shift in its financial landscape. With the announcement of the new ministerial decision on May 17, 2023, there are updated regulations for tax liability in the UAE, and it's a major win for residents and investors alike. This strategic change, according to UAE Cabinet Decision No. (49) of 2023, clearly outlines that...
Dubai's real estate market continues its upward trajectory, reflecting a vibrant economy and a robust demand for high-quality residential properties. This article delves into the dynamics of Dubai's real estate market, focusing on property prices, rents, and the areas where they rose and fell in April 2023. According to a report by CBRE, the first four months of 2023 recorded a record-breaking...
Welcome to the luxurious world of Dubai real estate! As an expert in the industry, I am here to guide you through the major communities in Dubai, providing you with insights on average property prices for both villas and apartments, as well as discussing how prices have increased over the past five years. Furthermore, we will delve into the pros and cons of these communities and evaluate their investment...
As rental prices soar in Dubai, it's crucial for tenants to be aware of their rights and the regulations governing rent increases. At Altitude, we are here to provide clarity on rent increase rules in Dubai. We have reported a 36% increase in rental prices in Dubai in 2022, with a significant rise in tenants opting to renew their tenancies. Consequently, due to strong market conditions, landlords...
A New Budget Proposal Aims to Increase Tax Collection at Source (TCS) on International Remittances to 20%, Affecting Foreign Investments and the Tourism Sector In a recent financial budget proposal, the Indian government has suggested a substantial increase in Tax Collection at Source (TCS) on international remittances from the current 5% to 20% for amounts exceeding a specified limit. This change...
As we wrap up Q1 2023, it's time for us to examine the latest developments and trends in Dubai's real estate market. The first quarter of 2023 has proven to be quite eventful, with several significant occurrences shaping the industry's trajectory. Let's dive deep into the details, so you can make informed decisions for your investments and stay ahead of the curve. Market Performance Dubai's real...
Dubai’s real estate market has seen a significant amount of growth and change over the past year. In 2022, the market saw a surge in demand for residential and commercial properties, as well as an increase in prices. The residential sector saw a strong increase in demand, with the number of transactions rising by 8.3% compared to 2021. The commercial sector also saw a surge in demand, with the...