Why Invest in Dubai?
Dubai , after Abu Dhabi is the second richest emirate in the UAE. This is the response of its vast import and export trading.As oil reserves are becoming depleted the rulers of Dubai have set about establishing Dubai as a leading financial and tourist centre of excellence. A new Dubai is emerging: a Dubai that offers the highest standard of living with no compromise.
Since the UAE Emirate of Dubai allowed foreigners to purchase property, and in most cases issuing UAE residency visas, there has been a property explosion. Dubai is rapidly becoming the obvious choice for the overseas investor. High rents in the area combined with low purchase prices of properties have fuelled the house-buying boom which has lead to many exciting new developments.
Combine all this with zero property and income tax, and an unmatched standard of living, it is no surprise that Dubai is the number one emerging market today.
There has never before been so much activity in Dubai 's property market as there is now, which although a response of the stable economy was also enhanced by the current changes being made to the property law. It is now possible for non-nationals to own freehold property in selected developments.
Since the option to purchase real estate became available in Dubai , there has been an extremely buoyant uptake. The market has been rising steadily and for certain projects such as the Palm, the resale market has been quite tremendous, with contracts swapping at a 100% increase in certain cases. Although the market has been quite heated, the price increase looks set to continue as properties are still very good value for money and the tax and business advantages in Dubai are very appealing.
Currently the lack of available housing stock has caused rents to rise and this has also lead to increasing prices of new and off plan property too. New residents coming in to Dubai each day will put further long term upward pressure on prices.
Dubai is a safe and very prosperous city with a strong trading tradition, and its property sector was only released from restricted ownership just over two years ago.
Some of the benefits Dubai has to offer:
- All year round sunshine
- Tax-free environment
- Cosmopolitan community
- One of the world's highest standards of living
- Low inflation
- One of the safest cities in the world
- Low cost of living
- Stable currency
Dubai Property the facts
Dubai real estate is five times cheaper than in LondonDubai rentals are returning between 7% and 11%
Properties are increasing up to 30% between build and completion.
Dubai is adding 85,000 housing units to accommodate the increase of population from 1 million to 3 million in the next 3 years.
Dubai has he fastest growing population in the world with an increase of 24% last year
Purchasers of property in Dubai are eligible to apply for a residence visa
Most properties are freehold

