Latest / Earn Your Leisure / Dubai's Real Estate Landscape: No Property Taxes, Interest-Free Mortgages, and More
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- 0:00Speaker 1: An illegal alien from Guatemala charged with raping a child
- 0:03Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
- 0:07Speaker 1: accused of murdering a Texas man of Venezuelan charged with
- 0:11Speaker 1: filming and selling child pornography in Michigan. These are just
- 0:15Speaker 1: some of the heinous migrant criminals caught because of President
- 0:19Speaker 1: Donald J.
- 0:20Speaker 2: Trump's leadership.
- 0:21Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.
- 0:25Speaker 1: Under President Trump, attempted illegal border crossings are at the
- 0:29Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal
- 0:33Speaker 1: aliens have been arrested. If you are here illegally, your
- 0:37Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned,
- 0:41Speaker 1: and deported.
- 0:42Speaker 2: You will never return.
- 0:44Speaker 1: But if you register using our CBP home app and
- 0:47Speaker 1: leave now, you could be allowed to return legally.
- 0:50Speaker 2: Do what's right. Leave now.
- 0:53Speaker 1: Under President Trump, America's laws, border and families will.
- 0:57Speaker 3: Be protected sponsored by the United States Department of Homeland Security.
- 1:00Speaker 4: So there's another thing that American in the Western world
- 1:04Speaker 4: has made normalized, where, if you really think about it,
- 1:07Speaker 4: a lot of these places outside of America, the whole
- 1:12Speaker 4: home buying.
- 1:12Speaker 5: Process is different it's so different.
- 1:14Speaker 4: It's like, you don't you if you have two hundred
- 1:17Speaker 4: thousand dollars, then you buy a home for two hundred thousands, that's.
- 1:20Speaker 6: It, no interest.
- 1:22Speaker 4: Yes, it's really how it should be, honestly right, because
- 1:27Speaker 4: it's like we normalize buying things.
- 1:29Speaker 5: That we can't afford.
- 1:30Speaker 4: Absolutely, So we put ten percent down or three point
- 1:33Speaker 4: five percent down, one percent down on a home that
- 1:37Speaker 4: costs five million dollars, and now we got to pay
- 1:39Speaker 4: a mortgage that we can't afford.
- 1:40Speaker 5: It.
- 1:40Speaker 4: It's like, that's because we live beyond our means. Yes,
- 1:45Speaker 4: that's because we want things that we really can't afford.
- 1:48Speaker 4: We want bigger, So it's like, well, why don't you
- 1:53Speaker 4: just pay for something that you can afford?
- 1:55Speaker 6: Yes?
- 1:56Speaker 4: Absolutely, But that's never really been taught to us because
- 1:58Speaker 4: the mortgage and even that banks work a lot of
- 2:01Speaker 4: these countries, especially on the Muslim countries, the banks don't
- 2:05Speaker 4: charge interest, so the whole way that the banking system
- 2:07Speaker 4: is set up is different. It's not really incentivized for
- 2:11Speaker 4: you to take a mortgage because when you're taking a mortgage,
- 2:14Speaker 4: the bank is really winning in a situation ryees, So
- 2:17Speaker 4: the amount of money that you're going to pay over
- 2:19Speaker 4: a thirty year time frame, you could have boid three
- 2:22Speaker 4: more houses for the house that you just purchased. So
- 2:25Speaker 4: it's like, even the way that we look at real
- 2:26Speaker 4: estate in America, we have a different mindset. We're trained
- 2:32Speaker 4: to put ourselves in debt for things that we traditionally
- 2:34Speaker 4: can't afford to benefit the bank.
- 2:36Speaker 7: Absolutely, that's a beautiful way to explain it, and that's
- 2:40Speaker 7: exactly what's happening, and that's why I really love that.
- 2:43Speaker 7: So having a conversation with Americans now and I'm like, well,
- 2:45Speaker 7: if you want a property now you have to put
- 2:47Speaker 7: fifty percent down, It's like, oh, gut punch, Like wait,
- 2:49Speaker 7: what what.
- 2:50Speaker 5: Do I do that?
- 2:53Speaker 6: What don't the world just happened?
- 2:54Speaker 7: But imagine if we were trained our our lives to say, no,
- 2:57Speaker 7: you can own a property in seven years, how many
- 2:59Speaker 7: more of us will be investors? How many more of
- 3:01Speaker 7: us will own real estate free and clear because there's no.
- 3:03Speaker 5: Annual properties and make better financial decisions.
- 3:06Speaker 7: Yes, exactly, if I know I need it, then I'm
- 3:08Speaker 7: gonna put it towards.
- 3:09Speaker 6: Something that's gonna actually add value.
- 3:11Speaker 7: And so I really love that when they typically go
- 3:14Speaker 7: through the financial aspect of what is necessary. They're gonna
- 3:17Speaker 7: look at your last two years bank statements. That's the
- 3:20Speaker 7: maximum that they'll ever do. Sometimes it can be shorter
- 3:22Speaker 7: three to six months.
- 3:23Speaker 6: It's really really capital focused. I can't emphasize that enough.
- 3:27Speaker 7: But in the scenario where you do get financing, there
- 3:30Speaker 7: will be some interest. But again, if you go back
- 3:33Speaker 7: to option A and you pay cash, there is no interest.
- 3:36Speaker 7: So that's the options that investors have. So it's really
- 3:39Speaker 7: really dope.
- 3:40Speaker 5: So you said something and we saw this as well.
- 3:43Speaker 8: There was a lot of creans, So that means there's
- 3:45Speaker 8: a lot of development happens which sometimes could lead and
- 3:48Speaker 8: we've seen this happen in Farida when there's too much
- 3:50Speaker 8: property and the market is oversaturated. How do we know
- 3:54Speaker 8: when or where we should be focusing Because you also
- 3:58Speaker 8: brought up the mainland in the freezoone, which are two
- 4:01Speaker 8: different things, and yeah, maybe explain that as well. How
- 4:03Speaker 8: do we know that, you know what, this market won't
- 4:05Speaker 8: be oversaturated in the next pot ten years.
- 4:08Speaker 7: Absolutely, I feel like oversaturation is kind of like just
- 4:11Speaker 7: a mindset thing, you know what I'm saying, Because imagine
- 4:14Speaker 7: if y'all didn't start a podcast because there were hundreds
- 4:16Speaker 7: of podcasts. It's just about what can you provide value for.
- 4:19Speaker 7: What makes Dubai unique to the world is a few reasons. One,
- 4:24Speaker 7: there's no capital gains tax, there's no income tax, there's
- 4:27Speaker 7: no property taxes. So there is no capital gains tax,
- 4:35Speaker 7: no income taxes, or any property taxes in Dubai. That
- 4:40Speaker 7: alone allows so much cost savings for people that are
- 4:43Speaker 7: ultra high net worth individuals. Okay, yeah, you're talking about
- 4:46Speaker 7: the number three safest place to live in the world.
- 4:49Speaker 7: So if you have a Bugatti in the US and
- 4:52Speaker 7: you have to keep it in your garage but you
- 4:53Speaker 7: really want to drive it, what good is it to
- 4:56Speaker 7: have all these things that you can enjoy. If you
- 4:58Speaker 7: come to Dubai and use that same money, you can
- 5:00Speaker 7: enjoy everything that you the fruit of your labor.
- 5:02Speaker 6: You can truly relax and enjoy it.
- 5:04Speaker 7: It is the number one most profitable destination for Airbnb,
- 5:08Speaker 7: and it is the number one most popular travel destination.
- 5:10Speaker 7: It's literally written in their airport. So what Dubai is
- 5:15Speaker 7: creating is a safe haven for people.
- 5:17Speaker 6: Who are entrepreneurial.
- 5:19Speaker 7: I will also say when it comes to people who
- 5:21Speaker 7: have service based jobs, this is one of the cons
- 5:24Speaker 7: that people may need to also pay attention to.
- 5:26Speaker 6: That's listening.
- 5:27Speaker 7: If you are an American and you don't have a
- 5:28Speaker 7: specialized skill, or you're not an entrepreneur and know how
- 5:31Speaker 7: to actually generate income for yourself as a business owner,
- 5:34Speaker 7: you're going to struggle in that market. It's not necessarily
- 5:37Speaker 7: the place for you to come and say, oh, I'm
- 5:38Speaker 7: going to put in all these applications. You have to
- 5:40Speaker 7: come over there and have something to give. It's really
- 5:43Speaker 7: kind of like a give and take type of society.
- 5:47Speaker 7: They allow you to do your thing, but you have
- 5:49Speaker 7: to generate income for yourself unless you're coming over there
- 5:51Speaker 7: you're like a CEO of Google or something like that.
- 5:53Speaker 7: But that middle ground doesn't really exist for Americans because
- 5:57Speaker 7: the service based business there, they're able to use less
- 6:00Speaker 7: skilled labor.
- 6:01Speaker 6: Yeah, they're in different parts of the world.
- 6:03Speaker 7: Yeah, different parts of the world, and just the cost
- 6:05Speaker 7: of labor is so much lower than what an American
- 6:08Speaker 7: would expect.
- 6:08Speaker 6: So you have to be able to generate your own income.
- 6:12Speaker 7: But your question though, as far as which areas are
- 6:15Speaker 7: really popping, So on the luxury side, you have the Palm,
- 6:19Speaker 7: you have the Dubai Marina, which is where I live.
- 6:21Speaker 6: I absolutely love it.
- 6:22Speaker 7: You know, waking up every day and being able to
- 6:24Speaker 7: just see yachts at ten o'clock in the morning people
- 6:27Speaker 7: are just out living their best life is so inspiring
- 6:30Speaker 7: to me. The other areas are absolutely love like downtown
- 6:34Speaker 7: Dubai and Maydeland City, and then on the lower end
- 6:38Speaker 7: more affordable areas, you have places like the City of
- 6:40Speaker 7: Arabia or South or Earners.
- 6:43Speaker 5: What's up?
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- 8:33Speaker 1: An illegal alien from Guatemala charged with raping a child
- 8:37Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
- 8:41Speaker 1: accused of murdering a Texas man of Venezuelan charged with
- 8:45Speaker 1: filming and selling child pornography in Michigan. These are just
- 8:49Speaker 1: some of the heinous migrant criminals caught because of President
- 8:53Speaker 1: Donald J.
- 8:54Speaker 2: Trump's leadership. I'm Christine nom the.
- 8:56Speaker 1: United States Secretary of Homeland Security. Under President Trump, attempted
- 9:01Speaker 1: illegal border crossings are at the lowest levels ever recorded,
- 9:05Speaker 1: and over one hundred thousand illegal aliens have been arrested.
- 9:08Speaker 1: If you are here illegally, your next you will be
- 9:12Speaker 1: fine nearly one thousand dollars a day, imprisoned and.
- 9:15Speaker 2: Deported, you will never return.
- 9:17Speaker 1: But if you register using our CBP home app and
- 9:21Speaker 1: leave now, you could be allowed.
- 9:22Speaker 2: To return legally. Do what's right. Leave now.
- 9:26Speaker 1: Under President Trump, America's laws, border and families will.
- 9:30Speaker 3: Be protected sponsored by the United States Department of Homeland Security.
- 9:34Speaker 7: The mac hells and there are so many different areas
- 9:37Speaker 7: that you can now invest in. The beautiful part about
- 9:39Speaker 7: it is that it's a growing economy, so everything's open,
- 9:42Speaker 7: he says Homeston.
- 9:43Speaker 8: That was important to our shot really quick. So the
- 9:45Speaker 8: free zone is the Palm's part of the free zone.
- 9:48Speaker 5: How does that work?
- 9:48Speaker 7: That's going to be a part of the so free
- 9:50Speaker 7: zone in Mainland is just for people who are looking
- 9:52Speaker 7: to start businesses to conduct business. It's like it allows
- 9:55Speaker 7: you territories essentially to be able to conduct business, to transact.
- 10:00Speaker 7: But when it comes to actually investing, you won't actually
- 10:03Speaker 7: see a project advertised if you can't as a foreign
- 10:05Speaker 7: investor purchase it. If it's something that's localized, that's more
- 10:08Speaker 7: under wraps, that's not going to be listed for sale
- 10:11Speaker 7: to they actually identify on the listing if it's something
- 10:14Speaker 7: that the public can purchase, or if it's something an
- 10:16Speaker 7: investor can purchase. But when it comes to like all
- 10:19Speaker 7: these new developments, those are all for foreign investors.
- 10:22Speaker 4: You said something that was I won't get back to
- 10:25Speaker 4: there's no property tax. That's another thing in America is
- 10:28Speaker 4: like you technically never really own your property because even
- 10:31Speaker 4: if you buy it out in cash, yes, if you
- 10:35Speaker 4: fall behind on your property taxes, then they can take
- 10:37Speaker 4: your property absolutely. And that's something that you know property taxes.
- 10:41Speaker 4: Depending on where you live, that could be the mortgage
- 10:45Speaker 4: right there, and.
- 10:46Speaker 7: Not to mention you're not in control of it.
- 10:48Speaker 5: It goes up, it goes everywhere else.
- 10:50Speaker 6: It goes up.
- 10:51Speaker 7: It goes up and then you you know, and then
- 10:53Speaker 7: let's also think about the legacy play.
- 10:56Speaker 6: We're all here to we all have children.
- 10:57Speaker 7: Well, yes you do have son to so we all
- 11:00Speaker 7: want to leave things to our children.
- 11:02Speaker 6: And it's like, okay, if they get tired of the property.
- 11:05Speaker 7: Oftentimes we lose all of the things that we work
- 11:07Speaker 7: so hard in the next generation, you know. But in
- 11:10Speaker 7: this particular scenario, you leave this to your child and
- 11:12Speaker 7: the trust, they're.
- 11:12Speaker 5: Going to keep it forever with no property tax.
- 11:15Speaker 6: There's no property taxes.
- 11:17Speaker 5: So he correct me if I'm wrong, but I was reading.
- 11:19Speaker 8: So he said, no property tax, no capital gains tax,
- 11:22Speaker 8: and you brought up Google for made me think there's
- 11:24Speaker 8: no corporate tax.
- 11:26Speaker 6: There's no corporate tax.
- 11:27Speaker 5: I was reading that that might be something that they
- 11:29Speaker 5: look to change.
- 11:29Speaker 7: That is something that they are open to changing very
- 11:32Speaker 7: soon within like twenty twenty four to twenty five ish.
- 11:35Speaker 6: Which you know, they may have a corporate tax. I mean,
- 11:37Speaker 6: they're like, listen now, y'all over here, make it too much.
- 11:40Speaker 8: That's something if I'm a corporate person these enterprises and
- 11:44Speaker 8: I come to Dubai, I'm not paying corporate taxes even
- 11:47Speaker 8: tax two years and even when the proposal right now
- 11:50Speaker 8: is saying about nine percent yes, as opposed to the
- 11:53Speaker 8: United States which is twenty one yes.
- 11:56Speaker 6: Yes. It makes a huge cost saving.
- 11:57Speaker 7: So even if it's nine percent, you're still saving money
- 12:00Speaker 7: and you're living in a place that's safe, and you
- 12:02Speaker 7: have all this labor that is a lower expense. You know,
- 12:05Speaker 7: it just makes sense on so many different levels to
- 12:08Speaker 7: at least think about it and have the conversation about
- 12:11Speaker 7: why am I not investing or conducting business in this region.
- 12:14Speaker 7: Another thing I want to also point out. You mentioned
- 12:16Speaker 7: oversaturation and seeing all this projects and it's like, okay,
- 12:20Speaker 7: well what are people actually doing with.
- 12:21Speaker 6: This real estate? You can go to Dubai.
- 12:23Speaker 7: You might see buildings that may not seem like there
- 12:25Speaker 7: are a lot of people in them, and there's a
- 12:27Speaker 7: reason why. It's because people come to Dubai and they
- 12:30Speaker 7: don't just purchase one unit, they purchase an entire floor.
- 12:33Speaker 7: So you may see a floor in the building that
- 12:38Speaker 7: looks vacant, but the reason that it is is because
- 12:40Speaker 7: it's just something they're either sitting on somewhere that they're
- 12:43Speaker 7: parking their money, you know, or a legacy play where
- 12:45Speaker 7: they're just bought it for them kids. They bought the
- 12:47Speaker 7: floor for them their kids.
- 12:48Speaker 4: Yes, so let me ask you this, Dubai is part
- 12:54Speaker 4: of the UAE United Arab Emirates, but there's other emirates.
- 13:00Speaker 4: Emirate down the road.
- 13:01Speaker 5: Is Abu Dhabi. That's where we met.
- 13:04Speaker 4: So the Abu Dhabi play is interesting because from my understanding,
- 13:08Speaker 4: and correct me if I'm wrong, Dubai became so popular
- 13:12Speaker 4: because they had the visions for the tourism. Abu Dhabi
- 13:16Speaker 4: is the real finance capital. Abu Dhabi is the real money. Yes,
- 13:19Speaker 4: that's they have way more wealth in Abu Dhabi than
- 13:22Speaker 4: they have in Dubai. And they are obviously you know, connected,
- 13:27Speaker 4: but there's some level of competition as well. Oh yeah,
- 13:29Speaker 4: and Abu Dhabi is trying to catch up to Dubai
- 13:34Speaker 4: as far as on the infrastructure tourism side. Yes, So
- 13:38Speaker 4: do you do work in Abu Dhabi and what are
- 13:40Speaker 4: the opportunities for Abu Dhabi because it's only an hour away.
- 13:44Speaker 6: It's only an hour away driving it out. Yeah, so
- 13:48Speaker 6: I really love Abu Dhabi.
- 13:49Speaker 7: I look at them as I look at Dubai almost
- 13:51Speaker 7: as like the black sheep of the of the UAE.
- 13:55Speaker 7: It's one of those places where you can go and
- 13:58Speaker 7: you can have, like you said, any part of the
- 13:59Speaker 7: world at your fingertips, any experience that.
- 14:01Speaker 6: You want, you can have in Dubai.
- 14:04Speaker 7: When it comes to Abu Dhabi, it is very much
- 14:06Speaker 7: more conservative, you know, so the lifestyleships. It's like as
- 14:10Speaker 7: soon as you drive into Abu Dhabi, it's almost like
- 14:12Speaker 7: you feel at peace. You're like, where are the birds?
- 14:15Speaker 7: Like where I need? Sound like it's too perfect? What
- 14:18Speaker 7: is going on? So it's really kind of about the
- 14:20Speaker 7: vibe that you're going for. Like I go to Abu
- 14:22Speaker 7: Dhabi for relaxation. I go there because I want to
- 14:25Speaker 7: make some high net worth connections, you know.
- 14:27Speaker 6: But I don't see Abu Dhabi being as.
- 14:30Speaker 7: Tourists friendly if you will as Dubai anytime soon, because
- 14:34Speaker 7: they still want to keep some of their culture alive.
- 14:37Speaker 7: I think when you start to just allow too much
- 14:39Speaker 7: to happen, it can kind of overthrow your overarching goal
- 14:42Speaker 7: of life, which I really do love because we all
- 14:46Speaker 7: need those pockets to be able to like de compressed
- 14:48Speaker 7: and go back to you know. And so, but they
- 14:50Speaker 7: are doing a lot of development. They are much more
- 14:53Speaker 7: wealthy than Dubai because they are oil focused. Dubai is
- 14:57Speaker 7: not oil focused. They are tourism focused and supply chain focused.
- 15:02Speaker 7: So that is also a misconception about devias, like they
- 15:04Speaker 7: had this oil money. No, they have tourism money, and
- 15:06Speaker 7: so that's why they're constantly building, constantly developing. And so
- 15:10Speaker 7: the reason I love living there is because I'm a resident,
- 15:12Speaker 7: but I get to take advantage of living in a
- 15:14Speaker 7: tourism focus city.
- 15:15Speaker 1: An illegal alien from Guatemala charged with raping a child
- 15:19Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
- 15:23Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with
- 15:27Speaker 1: filming and selling child pornography in Michigan. These are just
- 15:31Speaker 1: some of the heinous migrant criminals caught because of President
- 15:35Speaker 1: Donald J.
- 15:36Speaker 2: Trump's leadership.
- 15:37Speaker 1: I'm Christy Noman, the United States Secretary of Homeland Security.
- 15:41Speaker 1: Under President Trump, attempted illegal border crossings are at the
- 15:45Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal
- 15:48Speaker 1: aliens have been arrested. If you are here illegally, your
- 15:52Speaker 1: next you will be fine nearly one thousand dollars a day,
- 15:56Speaker 1: imprisoned and deported, you will never return. But if you
- 16:00Speaker 1: register using our CBP home app and leave now you
- 16:04Speaker 1: could be allowed.
- 16:04Speaker 2: To return legally. Do what's right. Leave now.
- 16:08Speaker 1: Under President Trump America's laws, border and families will be protected.
- 16:13Speaker 3: Sponsored by the United States Department of Homeland Security,