Real estate in Dubai - reasons to buy Dubai properties
No place in the world is marketing itself as successfully as Dubai. With fabulous weather, a burgeoning economy and a lavish lifestyle there is much on offer for those looking to buy Dubai properties. The market for real estate in Dubai is booming and, as a result, the price of property in Dubai is expected to rise considerably over the next few years.
High standard of living - reason enough to buy property in Dubai
Futuristic buildings, tax-free zones and luxurious accommodation are just some of the lifestyle reasons for buying Dubai properties. The Emirate offers a standard of living unobtainable anywhere else and more overseas buyers are getting in on real estate in Dubai by the day. At least 50,000 British expats have already taken the plunge and bought Dubai properties - care to join them?
Real estate in Dubai makes sound economic sense
The price of Dubai properties is still low compared to international standards and the Emirate has the distinct advantage of tax-free earnings for its residents. The price per square metre of property in Dubai is less than half of the UK although it is rising all the time. Rents are very high and for this reason more and more long-term residents are looking to buy property in Dubai rather than rent.
Among the other reasons to buy Dubai properties are:
- Mortgage costs in Dubai are falling
- Dubai has advantages as a tax haven and this greatly increases the money you have to
- spend on property in Dubai
- Delays in new developments means now is the time to buy existing Dubai properties
- The government is desperate to attract migrant workers. Unemployment stands at 0% and crime is virtually non-existent
- The reticence of some investors about real estate in Dubai has created openings for others
Economic growth means property in Dubai has investment potential
The growth strategy of the city has been to attract people with high tax-free salaries. Annual economic growth currently stands at 10% and foreign investment is expected to continue for some years to come, with the price of Dubai properties set to keep rising accordingly. Some new-build property in Dubai is worth three times its original value by the time of completion. The capital gains potential of real estate in Dubai is matched by the income which could be generated by letting out Dubai properties.
Changing laws to support real estate in Dubai
A market for real estate in Dubai has effectively been created from scratch. As a result, legislation is constantly being amended to support growth. Freehold ownership of Dubai properties has only recently been permitted but new areas of construction are continually being opened up by the government to aid development. This means huge changes to the infrastructure of the city are taking place with property in Dubai being built at an exceptional rate.
