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.

So Why Invest In Dubai Property?

Dubai is now being recognized as the business,leisure and sporting capital of the Middle East. Overseas property buyers and its millions of visitors each year are attracted to the liberal attitude and relaxed environment. Live and let live is the feel of Dubai where the majority of the 1.5 million populations are in fact expatriates.

Doing business in Dubai is surprisingly easy with minimal bureaucracy and a can do attitude that makes Dubai an attractive place for big business. The country wants inward investment and to increase its population. Politically stability and low crime are also one of the features of Dubai. International visitors feel safe and the presence of heavily armed police and army is not present in Dubai. How this state has achieved such an oasis of tranquility is remarkable. The ruling Royal family are admired and spoken highly by the people of Dubai. It may be the lack of political interventions or political parties in Dubai that may indeed make this place harmony.

The climate in Dubai is sub tropical and arid rain is seen during the winter months of December to March. The average temperature is between 10-30 degrees Celsius and can reach up to 48 degrees in July and August.

International investors buying property in Dubai include Russian,British,Indian and Pakistani investors. The French are now seeing the potential of this region and I anticipate will also become one of the major investors in this region.

Investors from the Middle East and United Arab Emirates are amongst the earliest investors. Buying property in Dubai as an overseas buyer is quite straightforward. The majority of real estate in Dubai is available off plan or pre construction. Typically as property developers launch a project there is flurry of activity amongst investors. Seasoned investors have speculated about the bubble bursting in the Dubai real estate market.

Oversupply has led to concerns by overseas property investors. In 2010 the number of homes in the region is set to double to 530,000. The commercial sector is also expanding at a rapid rate with office space set to triple,so who is going to buy all this real estate? Dubai Property Executives explain how Dubai is as great place to invest.

Nakheel is a government backed property developer Chief Executive Chris O’Donnell ‘People do get a little concerned about Dubai,thinking we are just building and hoping we will sell the product on completion. But we sell product prior to starting construction. Everything you see at Palm Jumeriah has been sold” Property Developers Dubai Properties Chief Executive Mohammed Binbrek “We do not begin until the units are sold and then we ask for a 70% deposit.” When asks if he thought the Dubai market would crash with so much construction he replied ” Around 40% of the population is under 20 add this factor to a population that is growing it implies much more houses.

With so much construction planned to make Dubai the city of the future it is a great time to buy property in Dubai.