Dubai property Is Over - Hardly

It seems that every time I tell someone what I do,I get the same reply. It goes something like this

“Dubai property is over,yesterdays news”

“Really?” I say,

“Absolutely,it was booming a few years ago but not anymore”,

“According to whom?” I ask

“Everyone”

Good news all round

It seems that the property developers don’t share these concerns as billions of dollars have been invested into projects newly announced this year. The largest project announced in Dubai to date was announced this year. Capital values haven’t stopped increasing and concurrently neither have rental values.

The finance market is on the up and starting to mature. A broader range of finance products have been announced by existing banks offering more sophisticated and developed options as well as many newer banks moving in and presenting their spectrum of products.

There are also an endless number of articles by financial advisers which sing the praises of investing in Dubai property. These cover topics such as the new property laws that have been introduced which have supported international investment in Dubai through to anecdotes about 25% of the world’s cranes being located in Dubai.

It is hard to believe that so many large organisations that have invested billions in Dubai have not done their due diligence beforehand.

No news is bad news

It seems that the concerns of the naysayer arose not from negative reports of Dubai but rather a lack of positive ones. All this information is not filtering through to the public at large,at least not in the UK. Dubai is no longer mainstream news as it was five years ago. The novelty of giant artificial islands or an entire brand new city made from the ground up in the desert has worn off. In order to find new information,specialist news services on the Middle East or international economy and property have to be read.

As a result people are not as excited about Dubai property as they were five years ago when it could be argued that it is now a more exciting time. Emirate Ventures Ltd,a UK based Dubai property agency,has seen a healthy level of inquiries and sales continue despite this change in perception.

Everyone is an expert apparently,but the real experts agree that Dubai is not over by any means. It has matured and continuing to grow at a very healthy pace.

Investment Property in Dubai

A few years back,many investors would have thought that an orthodox country such as the UAE could be a lucrative real estate investment destination. But with a little foresight and intelligent alliances,the rulers of the UAE have transformed the oil-dependent Middle East country into a major tourist hub with huge investment opportunities being thrown open to the global real estate investors looking to buy property in Dubai.

Dubai is a dream destination as far as temporary or permanent visitors in the country are concerned. The Europeans just love the modern amenities readily available for cheaper prices than their home countries. The guarantee of quality life at highly affordable cost of living makes Dubai a real hot potato for the British real estate investors.

Property Market in UAE - Dubai

Dubai is on the move and some serious developmental projects are under way on a large scale to transform the fortunes of the country. Almost everyday,reputed international companies are exploring the means of setting up their shop in Dubai. This is attributed to some aggressive promotional and developmental strategies adopted by the government.

The Burj Tower,with 188 storeys,is set to be the highest building of the world housing the 7-star Al-Burj Hotel. The Burj Tower is the jewel in the crown as far as high-rise and skyscrapers are concerned. Dubai is planning to host more than 200 buildings to increase its population from present 1.3 million to 4 million by 2015.

The country as a whole has some enchanting sites to visit. From the sand dunes of great deserts to pristine beaches to rugged mountains to lush-green well-maintained parks to ancient villages to places of worship to swanky shopping malls,you name it and you have it in and around Dubai.

The country offers an open port with low import duties. That’s why duty-free shopping in Dubai is on a high-priority list for the locals as well as visitors in the country. It is impossible to find a woman who has not heard about the annual Dubai Jewellery Shopping Festival.

Many European families prefer Dubai as a second-home destination because they can easily find maids and helpers at a fraction of what it costs in Europe and America. Such facilities are common in Dubai due to a large migrant population from Asian countries,like India,Pakistan,and Bangladesh,who are looking for menial jobs with decent pay.

Even though the UAE is a Muslim country,Dubai is an epitome of multi-culturalism in the Sheikhdom. For long,it was dependent on the Petrodollars for perking up its economy. However,the recent interest in developing tourism and tourist-related activities in and around Dubai means the investors are flocking in their droves.

International Golf and Tennis tournaments have lifted the global profile of Dubai and it’s been increasingly seen as a hub of international activities,particularly in the Middle East. You can also indulge in plenty of aquatic adventures,such as scuba diving and snorkelling,on a vast Mediterranean coastline. And while,in Dubai,don’t miss out on exploring the Manhattan of the Middle East,the Abu Dhabi City!

Dubai Calling !

Seeing the growth potential of Dubai,the government has emersed itself in overdrive in attempt to attract high-end as well as low-end global real estate investors. For the high-end investors,there is Palm Island property which currently attracts international celebrities,like David Beckham,don’t be surprised if your sharing your neighbourhood with a top Hollywood or sporting celebrity!

Even if you are planning to buy property for rental purposes,there’s no place better than Dubai. The city is fast turning into a services hub,which generates immense demand for Studio Apartments as well as separate dwelling units for small and medium families.

Some of the other attractive features that’ll surely lure you to invest in Dubai property include -

No Capital Gains Tax

Immense capital appreciation (15% - 25% annually)

Simplified buying process

Freehold for foreign investors

World class entertainment and other facilities

Year-round sunshine

The price of Studio Apartments in Lakeside Development - IMPZ start from £49K,and other properties starting from as low as £23,000. Cheap apartments in Dubai are fast becoming a favourite of the astute property investor.

The Disneyland attraction in Dubai also contributes to a huge demand for Dubai property from just about every kind of investor.

The best part of investing in Dubai as an overseas investor is your status as a property owner. You will be a freehold owner of the Dubai property you purchase. To meaningfully make investment attractive in Dubai,the government has also relaxed several formalities and done away with rigorous procedures. It’s now much easier to invest in a high-end Dubai property with minimum help from a legally qualified professional. However,the language issue may compel you to hire a professional who can guide you accurately in realizing your Dubai real estate dreams.