Property in Dubai - Luxury and Lifestyle Redefined

Buying property in Dubai has never been so appealing. Some of the landmark real estate projects of the world are being created in Dubai and luxury and lifestyle living is being totally redefined. Property in Dubai is seeing an astounding growth and the world’s rich and famous are flocking to the desert city. The market for property in Dubai is a haven for investors because of the principles of free trade, tax freedom and a liberal economic system. All these factors are fuelling the expansion of property in Dubai not just in the city but in the surrounding areas as well.

It is a fact that 65% of the GDP of the UAE is contributed by real estate and construction services and property in Dubai is a major contributor in it. Luxury and lifestyle living is one of the hottest investment pullers for property in Dubai. Design and architecture as we know it has been improvised upon and reinvented to give a personalized feel to every project. There are a large number of developers who are cashing in on the lifestyle quotient and property in Dubai is setting trends for the world to follow. The World Islands and the Burj Tower are some of the ultimate engineering marvels and property in Dubai is truly represented by them. Property in Dubai has to offer much more than one can imagine as most of the projects are comprehensive and self sustaining in themselves. Retailing, office space, residential complexes, villas, resorts - you name it and property in Dubai has it all. You can even own a piece of the World in an exclusive property on the World islands though such a property in Dubai will come at a hefty price.

Even for the average investor property in Dubai has something to offer though this market is rapidly getting reserved and prices are soaring. The land of jaw dropping schemes and incredible festivals has something very similar to offer for property in Dubai as well. Easy installment plans, loans and other options facilitate the buying process and if you are ready to take the plunge then you could also have your very own property in Dubai. Property in Dubai is thus available to every one and the city is truly heading towards being a global city in every sense. It is being observed by market experts that the demand for commercial developments is considerably lower than residential property in Dubai. Thus we see a trend of more and more housing projects coming up and retail space as well supporting this property in Dubai. Office space is also growing but it is not as much in demand as lifestyle and luxury property in Dubai. People are even getting customized property in Dubai to suit their living styles and habits. All this does come at a price though, but when you are earning millions you can always set the trend. Property in Dubai has the world watching and people are excited about being a part of this great cultural hub as a lot more is expected in the near future.

Real Estate Dubai

Real estate Dubai has become the hub for property investors and more and more people are getting interested in investing their hard earned money in real estate Dubai. This city is located centrally in the Middle East thus; it forms a very convenient location for business purposes. This is one of the factor that has made real estate Dubai most popular. Here the dream living have now taken the shape of reality as the real estate Dubai is constantly booming. Moreover, if we look at the real estate Dubai dealings in terms of buying or selling off property then it is quiet simple than in other countries. This reason also contributes in taking the real estate Dubai to new heights. Furthermore, the real estate Dubai offers properties at a reasonable pricing when compared to any other part of the world. Moreover, the real estate Dubai offers both residential as well as the commercial properties at a rational price. If we search real estate Dubai in detail then we will come to know that this place has always been in the limelight due to its magnificent architecture. Thus, to invest your money in real estate Dubai is a great idea.

Properties available in real estate Dubai involves no legal hassles as there is no stamp duty over such property related matters. As per the government rules you can own a tax free property in real estate Dubai. Moreover, this great city has a lot more to offer in terms of property. You will find variety of options in real estate Dubai ranging from luxury apartments or villas, hotels, condos to small and rented apartments. In this case all you have to look for is your own budget and requirement. This unique melting pot of people and cultures has a lot to offer to both residents and visitors. In past few years real estate Dubai has made a mark by some breathtaking property developments. The most famous properties are also part of real estate Dubai including properties in Palm Island, Business Bay, Dubai Marina, Dubai Land and other places. These are the residential properties, but if we talk about the commercial property then also real estate Dubai is no behind. Real estate Dubai offers some lucrative employment opportunities. Moreover, many multinational companies have set up their units in this great city. Thus, this city has even evolved as a business hub. This in turn has helped people in exploring more of commercial properties in real estate Dubai. Most of the investors in real estate Dubai work on a common platform they buy the property at present and later when the value of real estate Dubai soars high they sell off their property. This helps them to get higher returns. Moreover, the best part about properties in real estate Dubai is that they are not only profitable in terms of money gains but they also offer you the perfect locations to live a life which is stress free. Real estate Dubai is taking a step ahead in future and at the moment real estate Dubai is perhaps the safest gamble that anybody can play as far as property investments are concerned. Real estate Dubai is now transformed into a million dollar industry from where you get assured returns.

Property in Dubai - Great Investment Plans

Dubai city is one of the seven emirates that form the United Arab Emirates and it has been constantly upgrading its real estate market, especially in property in Dubai. Property in Dubai is persistently attracting buyers from around the globe. The city of Dubai has always been in the limelight due to its strategic architecture. Property in Dubai is well known for well designed buildings and towers, be it they are residential or commercial. Property in Dubai has become very popular from the investment point of view as the property in Dubai give greater returns on investment. Moreover, the best property in Dubai is available at a very rational price, premium and super premium levels. The only thing that is required from the buyers or the investors end is to decide his budget and requirements. This has to be done because property in Dubai is available in many forms. Property in Dubai can be divided into villas, office spaces and luxurious apartments along with plenty of other options depending on your budget. As far as the investment in property in Dubai is concerned investors generally, select some prime locations. Some of such locations wherein you can purchase great property in Dubai is: Palm Island, Dubai Marina, Business Bay, Jumeriah Lake Towers and many more. These are some of the hot places where you can invest your hard earned money to get higher returns. If we compare commercial property in Dubai with the residential one then we will see that commercial property in Dubai will become scarce within few years as its demand is less than the residential property in Dubai.

Dubai city is attracting investors for property in Dubai from all over the world because some of the prime reasons associated with it. The first and the foremost is capital appreciation. The studies have shown that in recent years the property in Dubai have risen by more than 25%. Moreover, it will get increased in the coming years. The next prime benefit is that the property in Dubai is tax free. The person who is involved in any of the property related issues need not pay any tax. This exerts a pull on investors for investing in property in Dubai. Another reason for popularization of property in Dubai is the ratio of demand and supply. The demand of property in Dubai is more that its supply due to the fact that the property prices here in this city are very cheap as compared to other cities. Moreover, the tourism is also getting augmented in this city and thus the requirement for property in Dubai such as hotels and rented apartments is great. As far as the commercial property in Dubai is concerned this city is also known as the business hub of the Middle East. It has a 23 hours stock exchange market as well thus; require more and more commercial property in Dubai. Moreover, many multinational companies have set up their offices in this city. This can be one of the reasons for great demand of property in Dubai.

People who know their requirements well can easily get a rented apartment or a property in Dubai. However, before getting involved in any such property transactions you should leave no stone unturned to explore the market of property in Dubai. So, all those people who are looking for investing in one or the other kind of property in Dubai have a unique opportunity.

Property In Dubai: More Than Just A Holiday Haven

Property in Dubai is the current hotspot in being a potential investment destination. From being a regional hub, Dubai has very rapidly transformed itself into an international confluence of trade, commerce, and recreation centre and of course the option of future homes by owning property in Dubai. Because of these factors Dubai is fast becoming a popular tourism destination and owning property in Dubai the complementary to tourism. Though tourists initially invest in holiday homes as property they are ultimately contributing to the spurt in the sector of property in Dubai. The highly pro-investment regulations offer renewable residential visas for a 3 year period, thus making the process of owning property in Dubai much easier. It is also true that foreign property investors in Dubai must show some caution while purchasing property in Dubai.

Property in Dubai and the thriving tourism industry somehow seem to be growing together. Unlike other countries, the foreigners here actually think of owning property in Dubai, considering the lucrative property investment returns. Property in Dubai and its extensive success is changing the international property market scenario. Property in Dubai is an extremely appealing choice for foreign nationals.

The climate of Dubai has been attracting people from places like UK to consider buying property in Dubai. There is everything that a property in Dubai will enable them to enjoy -the sun, the beach, exclusive shopping, recreational activities and so on. The lure of good life is doing its part to attract foreigners to invest in property in Dubai. Another interesting feature of property in Dubai is that the Dubai government has allowed foreigners to not only purchase property but also develop new projects.

A study has proven that more and more people across the globe are willing to buy holiday homes as property in Dubai. This gives them a double edged benefit - use their property in Dubai for themselves as well as make it their investment which is impeccably strong, taking into account the present property market scenario in Dubai. It is of immense importance to note that a huge percentage of property in Dubai is bought by new investors looking for greener pastures.

Dubai attractions ranging from its amazing coastline, high level recreation centers like Burj Dubai, Dubailand, the Dubai Mall, manicured golf courses, even the Dubai International Airport are an instant recipe for success for investors in property in Dubai.

Though skeptics are weary of the imbalance between demand and supply of property in Dubai, the builders are not very perplexed. This allows them to allay all fears and attract tourists as potential investors in property sector in Dubai. Dubai is becoming increasingly popular with nationals from UK, Europe who want to live abroad. Dubai has become synonymous with the term “Do-Buy”. Thus, the attraction of a stellar lifestyle and endless opportunities has made many visitors to end up buying property in Dubai. Moreover, property investors are especially working hard in projects that will seem irresistible to the incredible tourist market.

Dubai Property Forays into Waterfront Options

The Dubai property market, though in its relatively nascent stage, has evolved to become one of the premieres in the world’s leading freehold property markets. This phenomenal rise has seen Dubai property to venture into many innovative projects. The Dubai property market boasts of a wide range of property types and among these waterfront properties happen to be its shining glory.

Dubai is home to an extensive coastline which makes those looking for sea or lake viewing property spoilt for choice. Waterfront living is a truly sensational experience and Dubai property with its astonishing engineering feats offers just such an experience.

Some key points relevant for Waterfront properties

1. The apartment or villa should actually overlook the water.

2. It should be supplemented with wall-sized windows to maximize the viewing experience.

3. The surrounding areas and the build quality.

High Value worth

One of the advantages of owning a property in Dubai overlooking a water body in a substantial location is that they command a good price and is worth the value. Quality and unique architecture is a feature commonly found in these waterfront Dubai properties. From apartments to luxury villas, the Dubai property market claims to offer the best in the field. And it is truly so.

As far as investment is considered, waterfront property in Dubai is a good bet. It not only offers a great view coupled with an amazing living experience, owning a waterfront Dubai property also boosts the prestige of the owner. For example owning an apartment with a vista of the Arabian Sea is an unbeatable deal in spite of it its high price.And those who are willing to rent out such properties, they command a better rent than renting same-sized apartments in a landlocked location. Dubai property with waterside views is easily rented out.

The Dubai property holders, who offer the waterfront viewing experience, cater to the different needs of all types of clientele. It happens to be the perfect home for those who want to get away from the chaos of the city. Dubai property builders leave no stone unturned to supplement these properties with the all the requisite amenities.

Location Advantages

Those who want to acquire such a Dubai property, should first look at the different options available, their location and the finance limit. The suceess of Dubai property lies in its ability to offer multiple options. So if you don’t get a sea-vewing waterfront property in Dubai then there are avenues like lake viewing or those offering views of the Dubai Creek. The options in the waterfront Dubai property are in an expansion spree with three palm islands, new lakes being dug, natural bodies like lagoons and the marina being brought into the foray.

Dubai property holders are increasingly engaging in more and more waterfront developments and they make sure that they are all unique which will attract more inevestors. The Dubai property market has accelerated at an incredible pace through the years and this offers a sense of security as well to investors. So buyers looking for waterfront Dubai property have all the options available and can look forward to own a sure shot value for money investment.

Buying off-plan property in Dubai

Off-plan property in Dubai has become quite a rage lately. Though the concept is becoming increasingly successful, there are speculations in the property market as to what factors make selling and buying of off-plan Dubai property so.

The article gives an overview of the factors impinging on off-plan property in Dubai that have to be borne in mind by a prospective buyer.

• The Property Developer
Before going in for off-plan property in Dubai, one has to have an inside out knowledge of the respective developer. The name, the years in business, past projects, business record, history of any complaints against him/her or their development, are all important considerations to be made. Buying property is not a small deal and trust factor is crucial.

• The Financial Scaffolding
It is again vital to know who is backing the respective property developer. In Dubai, the least risky transactions are with government projects. Big names in Dubai property market such as Nakheel, Dubai Properties and Limitless are fully owned by the government which in turn has a major stake in Emaar as well.

• Price of Property Units vis-à-vis Construction Costs
If the property units in question look too cheap to be able to be completed, think twice. Low off-plan rates are a warning signal as they hint towards inferior quality/ failure of the developer to deliver the completed property in the face of financial trouble.

• Escrow Account Bank Details
Since July 2007, it is compulsory to have escrow accounts for all off-plan property developments in Dubai. It is crucial to know the bank which is providing escrow facilities for a particular development. It is always a good idea to go for a property wherein the bank is owned or controlled by the government.

• Payment Structure of the Property
One needs to go through the payment structure of off-plan property in Dubai carefully to see if it suits one’s practical circumstances. This is particularly important when getting the property financed. Certainly one doesn’t want to pay interest for a loan if the project is delayed.

• Stage of Development of the Property
The risk factor involved in off-plan Dubai property depends upon the stage of development as well. If the construction hasn’t started and all that the developer can show is the architect’s drawing, then the probability of project delay is the highest. It is far more likely that the property unit will be delivered on time if you can see a substantial chunk of work already done.

• Costs of Renting Temporary Property
If buying off-plan property in Dubai means that you’ll have to stay on a high rent for a long time, you’ll need to add these costs to the total expenditure. If this figure is quite high, shifting to a completed property in a lesser known place is a better and more sensible idea.

• Location of the property in Dubai
Since location of a property is one of the most important points to consider before making the purchase, it is always advisable to check the locality personally.

Also Read: Dubai Property Market - Buy or Rent?

Dubai Real Estate: Current Rental Scenario

For long, people from developing countries have lived and worked in the UAE with simple accommodations provided by local sponsor. They rented apartments but none were able to own any real estate in Dubai. In 2000, the opening of freehold property has allowed the workers to opt for second homes and put them on rent to new comers in the Emirate. As real estate in Dubai is a sunrise industry, the current rental scenario is undergoing change. The property laws are being rewritten to allow investors and workforce to buy real estate in Dubai in the form of commercial or residential space. So what property advice can one get from experts on the current rental scenario concerning real estate in Dubai? This would include all aspects of real estate in Dubai, counting changing rental rates, purchase formalities, dealing with official agencies and getting loan facilities. The time is ripe for individual investors to make assets that will appreciate in any form of real estate in Dubai.

The Dubai Land Department provides all information relating to property deals of real estate in Dubai. For the last 47 years, this department has kept a close watch on all land deals and the registration of all property concerning real estate in Dubai. There is a paradigm shift in the rental scene concerning freehold real estate in Dubai. This is because the UAE government is giving preference to the real estate in Dubai. It has become necessary for every investor to keep in touch with current rental market prices of real estate in Dubai. The leasing costs of many properties of real estate in Dubai are increasing. Inflation is not the only reason for it. The population growth and rapidly increasing opportunities in allied sectors of real estate in Dubai have also contributed. Engineers, architects, designers and brokers have also contributed to the benefits that real estate in Dubai is providing to the citizens. What has become straightforward and trouble-free is the loan facility to buy second homes as part of emerging real estate in Dubai. Now one can get easy mortgage, which means new rentals will make real estate in Dubai more lucrative to existing citizens.

There is no likelihood of slump in any type of property of real estate in Dubai for at least the next ten years. The investment markets have helped in rising rentals of major property investors of real estate in Dubai. The best properties of real estate in Dubai to rent would be the newly developed luxury homes, villas, 2-3 bedroom apartments (good for small families) and small offices to set up business. The current rental prospects can be availed of by long term residents who have aspired to make their real estate in Dubai yield more Dirhams to have a better lifestyle. Brokers and estate agents provide information regarding current rentals of real estate in Dubai. Rising rentals will not deter new development nor stop emerging properties to pay back revenues for existing investors for now at least.

Final Tip: Keep a check on the property laws; they are still being revised from time to time.

The Role of Government in the Development Of Dubai

The pre-dominance of the Dubai property sector has attracted the attention of many buyers and investors in UAE. The rise of Dubai property segment has proved that the stable government is the backbone for survival. Since the oil boom, the policies, property laws, polity and governance of UAE have been citizen-friendly. Now with focus on Dubai property, the bulwark of government machinery to safeguard and control real estate development is already active in many areas. The Dubai Land Department and RERA are the main government bodies that monitor all Dubai property development.

Some of the main areas that the government is monitoring Dubai property concerns with the revision of laws after the freehold land has become open to overseas developers, investors and buyers. It was only in August 2007 that the government declared a law on mandatory escrow accounts for all Dubai property developers and builders. This is very critical as not all Dubai property builders are reliable. To protect the buyers, it was natural that the government passed this crucial Dubai property law. With this one law, the Dubai property developers have been put on leash. In compliance of this Dubai property law, it is now compulsory for all monies paid by off-plan buyers to be held in separate escrow accounts. The funds can be released only when Dubai Land Department permits it. The government itself is the biggest Dubai property developer. It will have to lead by example and help other Dubai property builders to follow. At the moment, the biggest attraction is the rental yields for buyers of Dubai property. Some buyers have also invested in Dubai property under construction. This means the financial flow has to be smooth. If any project is affected by non-flow of funds it could create tremors of uncertainty. This would only fuel rumors of crash of some Dubai property, which would ruin the government’s painstaking efforts since 2000.

The government has to constantly regulate the Dubai property development least it turns into a nightmare for all related sectors and people. The onus lies on the Dubai land Department and RERA to ensure Dubai property will not slide and affect the region’s economic growth. In fact, the entire Middle East region is dependent on continous Dubai property development. The Real Estate Regulatory Authority (RERA) CEO, Marwan bin Ghelaita has a special role in making real estate development in UAE more stringent. The escrow account which has come into existence will slowly be extended to all projects related to Dubai property by the beginning of 2008. Buyers, who have become jittery about some delayed projects of Dubai property are now confident that their investments are safe. The repercussions of the new LAW No. 8 are apparent. Few Dubai property builders have announced any new projects. Meeting the three important criteria of RERA has stopped the unchecked growth of Dubai property. For all practical purposes, new investors have to toe the government’s regulatory line before opting for investments in Dubai property projects in future.

Final Tip: Brace up for more regulations as the Dubai Land Department formulates rules for delayed projects post 2007.

Jumeirah Lake Tower Community

The Jumeirah Lake Tower Community is a huge complex, a perfect case in point of how freehold Dubai property can be developed with creativity for community living. It is the first mixed free zone, freehold land development of Dubai property supported by the government. It is a waterfront district in the neighborhood of new Dubai. This exclusive business and residential address is being developed by Al Nakheel - reputed Dubai property builders. Designed as self-contained township, it has residential and commercial towers along with designated shopping areas, hotels and entertainment zones. A prestigious postal address - this Dubai property is situated near Sheikh Zayad Road between interchanges 5 and 6. Nearly 79 towers (more will come up) are available to citizens of this exclusive Dubai property development. This freehold Dubai property can be bought by foreign investors. It has already attracted many buyers.

The Jumeirah Lake Tower is set in groups of three towers. The waterfront Dubai property is landscaped, has waterways and is surrounded by four lakes. Absolutely safe and secure, this Dubai property is worth investing in. The four man-made lakes look natural, an added advantage for the occupancy of every part of this Dubai property. It covers nearly 255, 000 square meters of land, making it an aqua-themed Dubai property. The four lakes are called Almas East, Almas West, Elucio and Allure. The waters of the Arabian Gulf are pumped everyday to give a unique aqua-structure to this Dubai property. Already the DMCC part of Dubai Municipality will provide licenses for various businesses in the commercial section of this Dubai property. Since it is in the free zone sector, many businesses are likely to benefit from this part of Dubai property.

The freehold Dubai property, Jumeirah Lake Tower is close to two golf courses - Emirates Golf Course and Montgomorie Golf Course. The Hard Rock Café is also close to this prestigious Dubai property. Other areas that are close by to this Dubai property include Dubai Marina, Dubai Internet City, Media City, American university, Dubai Marina and The Palm Islands. Even the Jebel Ali free zone is close to this Dubai property.

Some of the projects which are under construction in this Dubai property include Lake Plaza Armada, Al Waleed, Al Seef, Falcon Tower, Green Lakes Tower, Madina Towers, Lake Terrace, Fortune Executive, Dubai Gate, Laguna Tower, Indigo, Tamweel Tower, Palladium, Dubai Arch, Saba Tower to name a few. All the projects being developed on this freehold Dubai property will have international amenities and services. The commercial spaces and offices will have state-of-the-art business facilities and conference centers. The residential towers, having 2-3 bedrooms apartments in this Dubai property, are equipped with safety features, swimming pools and fitness centers. Since it is a waterfront property, it has a beautiful promenade. There are shops nearby for all provisions making it a self contained Dubai property. As job opportunities help people to relocate in Dubai, property here will sell quickly. It is a matter of time that this waterfront complex gets fully occupied.

Final Tip: Amongst all the upcoming projects of Dubai property, the Jumeirah Lake Tower will be sought after by first time home owners who wish to make a home in UAE.

Property in Dubai as a Long-term Investment: A few Guidelines

Property market in Dubai shares features of any other international property market. These include (and are not limited to):

• Fluctuation of property prices

• Popular locations for buying property

• Coming up of new property developments

Yet there are regional factors that make Dubai property market stand out. Following are a few guidelines on buying property in Dubai:

• Dubai property sector is constantly coming up with new developments. Check out all of these before investing.

• It is a known fact that property prices in general have been on the rise in Dubai. At the same time, one must not forget that with a plethora of properties, one can easily find what suits one’s pocket.

• Dubai government has limited foreign ownership to a few areas in the emirate. So in case you are a foreign national contemplating to buy property in Dubai, be aware of all available options through a reliable property agent.

• Striking a good bargain is not so easy in this booming property market. But if you know the market thoroughly, you’ll be able to find investments with a good profit margin. So do not be hasty in taking the final plunge.

• Get conversant with the Dubai escrow law. It has indeed made life easier for the buyers, sellers and developers of Dubai property.

• It is also a good idea to rent out your Dubai property. Survey current rental scenario to maximize your chances of making profit.

• There is a vast pool of properties in Dubai that have not been tapped properly due to lack of advertising. Consequently, these are a good value for money. Jumeirah Lake Towers, Business Bay and Festival City still have affordable property units.

• There are areas in Dubai property that have still not reached their full potential. Invest some time beforehand to understand the state of the market and grab these.

• Off-plan sale/ purchase is a regular practice in Dubai property market. Off-plan property units offer good business potential as the prices are usually lower than those of completed projects in the same community. Be well aware of the nitty-gritties of such a transaction however.

• Buying property in state of the art projects like the Palm and the World might look a costly option at the moment but one must bear in mind that in the long run this is a profitable investment.