Why investing in real estate in Dubai may be better than investing in Miami

Creek Beach is one of the Emaar projects proposed by Fabián Parolari. (Fabián Parolari Press)

Investing in real estate abroad requires you to think carefully about what you want to do. Although the end is only income, the Latin-rooted investor tends to do it in places he thinks he’s going to live. “That’s why Argentines buy a lot in Spain, Miami or Uruguay, the end buyer is looking for health, safety – mainly legal certainty – and an exceptional quality of lifewhich also enters into the quality-price ratio”, explains Fabián Parolari, dedicated to real estate international luxury for 20 years.

The Emirati city of Dubai has all this and above the average of other urban centers of similar level, according to the experience of the Argentinian consultant. “There we are going to invest in a city where first they build roads, means of transport, they have a spectacular metro system. All these services make the city work“, he explains and adds: “Dubai had a line of thinking where they said that at some point the oil was going to run out or that it was going to be replaced and they started to think of new alternatives. Today, it is an exporter of goods and services, and their biggest income does not come from oil but from tourism; Dubai’s hospitality industry is outstanding”.

Investing in real estate in Dubai may be a better option than Miami

Another aspect that contradicts the imagination is the religious and cultural, despite being the fourth city in the world to receive international tourism since 85% of the people who live there are foreigners. “I am a resident of Dubai with my wife and we live the same life we ​​do in any other country. We go to the beach like in Mar del Plata, Miami or Europe. If I’m not a Muslim, I don’t have to abide by any religious restrictions,” says Parolari.

What are the numbers of an investment in Dubai

Besides the quality of life in Dubai, the price contrast in upscale neighborhoods with conventional markets is very significant. “The big difference is that Dubai has no deed fees, no property tax, no inheritance tax. In exchangeif one buys a property in Miami, for example, it is already more expensive today than in Dubaithe rents are similar, but we pay 2% of the property tax. In addition, he must incorporate a company, pay an accountant, pay income tax and have bookkeeping fees. If I take into account the values ​​of Miami today, the rent will be negative and in Dubai we are close to 8% per yearParolari analyzes.

The consultant represents Emaar, the world’s largest construction company after Chinese state-owned enterprises, which is developing four concurrent projects in the capital of the United Arab Emirates. “In Dubai, we have products that start at $220,000 and up, with a high-end project price range of $220,000 to $500,000. We are talking about luxury brand towers in the most emblematic areas,” he comments.

The St. Regis project is being built in downtown Dubai. (Fabián Parolari Press)
The St. Regis project is being built in downtown Dubai. (Fabián Parolari Press)

The management for the purchase of a property in this place can be very simple. “You can buy on the spot, the signed documents are sent by post then the originals by a mailand then they send the signed documents. When you buy a well, you pay a percentage during the works and a percentage against the delivery, but everything is simplified from here without any problem”, explains Parolari.

In this sense, it is not necessary to travel and go to see the work and, in fact, there are products particularly suitable for those who do not plan to go to Dubai. “What I always recommend to those who do not travel regularly to Dubai is investing in a Condo Hotel, i.e. buying an Emaar hotel suite where one does not care about everything and obtains returns of 8% per annum. The operation is entrusted to the hotel, which pays the profit every month. It’s ideal, ”said the Argentinian expert.

Fabián Parolari, Argentinian expert in international luxury real estate investment. (Fabián Parolari Press)
Fabián Parolari, Argentinian expert in international luxury real estate investment. (Fabián Parolari Press)

Regarding funding, there are also two very common options. One is through the construction company Emaar itself and the other through the banks. “Interest rates in Dubai are very low because for them they are considered usuryso they are always super low or zero,” explains Fabián Parolari.

The consultant concludes that The Qatar 2022 World Cup can be a great opportunity for Argentines to discover the city of Dubai and decide to invest in this region of the world. For personal meetings and reports with the international sales of Fabián Parolari, you can enter here or contact the phone +1 786 202 1231 or by mail at fparolari@gmail.com.

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