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Luxury developer DAMAC Properties has welcomed a report by Global Property Guide which has revealed that the UAE is among the top 5 countries in the MENA region in terms of rental yields.
The study compared the rental yields of apartments, all about 120sqm in size, across various countries. With gross rental yields of 6.89% per annum, the UAE ranks slightly behind Jordan, but is ahead of Egypt, Morocco and Lebanon.
?The UAE has higher rental returns than some of the most popular locations for property investment in the world. With yields at 6.89%, the UAE offers much higher rental returns than for example the UK and more than double the rental yield of Hong Kong? said Niall Mc Loughlin, Senior Vice President of DAMAC Properties.
Another important factor for investors to consider is the favorable tax environment in the UAE. Rental income is tax free, and there are no capital gains taxes levied on the sale of properties.
?The property market in the UAE is changing remarkably; three years ago it was dominated by investors pursuing capital growth, and now that prices have stabilized, it?s characterized by investors seeking continually high rental yields. While the returns aren?t as lucrative, they are still relatively high and most importantly they are consistent? commented Mc Loughlin.