Property in Dubai

Dubai, the jewel of the Middle East is a virtual summer holiday capital of the western world. Property in Dubai is attracting Asian investments. The biggest reason is unlimited opportunity to invest in property in Dubai. In the last five years, Dubai has said Ahlan Washlan (welcome) to expatriates buying property in Dubai. In 2001, the crown prince, Sheikh Mohammed bin Rashid Al Maktoum allowed foreigners to have a 99 year old Dubai property lease. He sent a positive signal to realtors and investors regarding developments in property in Dubai. The permit to buy freehold property in Dubai, allows foreigners to work long term. This has accentuated the region’s growing popularity amongst the expatriates.

Buying property in Dubai is likely to be lucrative for most people working there. A combination of the government’s liberal policies for rentals and investments in commercial and residential sectors has triggered a global interest in property in Dubai. It has fuelled the growth of premium asset allocation of property in Dubai for local citizens also. The golden sands now have the glitter of gold souk with premium property in Dubai for sale all over the country. Traders find Jebel Ali port an attractive property in Dubai for investment. Being a free zone hub for trade and commerce linking east and west, the Jebel Ali port facilitates 24 hour services with state of the art infrastructure and easy tax structure. The Dubai airport, business parks, Media City and Knowledge City are also attracting global companies to invest in property in Dubai. Recognizing the potential of job opportunities and living prospects, the Dubai property sector is geared to provide expatriates more leverage. The government has allowed private developers to construct world class facilities. Some of the largest local developers who are in the forefront of development of property in Dubai include Emaar Properties, Al Nakheel Properties, Damac Properties, Sabah Real Estate Group, Estithmaar Realties (handled by the government).

The explosion of property in Dubai has employed many skilled professionals and unskilled labor from Asia. The fast construction ands development rate of every property in Dubai has virtually changed the skyline of the desert. Apart from the property in Dubai, other factors that make expatriates chose to live in this burgeoning Gulf emirate include its:

• Cosmopolitan culture

• Environment,

• Laws against drugs

• Lowest crime rate in the world

• Education for children

• Salaries and living conditions

As the economy rises, high net worth people are considering investments in property in Dubai. Other advantages in buying property in Dubai include:

• After living for five years, one can rent out property in Dubai. One can get a year’s rental in advance making it a viable proposition.
• Property in Dubai bought as investment or for living, appreciates over the years. The asset is worth buying any time in comparison to equity, stocks or bonds. Property investment defies inflation too!
• Property in Dubai is much cheaper in comparison to many other cities in the world.

Final Tip: There is still time for the Dubai property bubble to burst in the Middle East. Buy now!