For the global investors, Dubai has become the hottest place to invest in. Dubai is a land of promise with its Amazing developments and projects that have captured the attention of the investor world wide. To give impetus to this already building excitement was the implication of the May 2002 law that facilitated the Dubai property by foreigners.
There is approximately $901 billion that has been invested in the property of Dubai some of which are complete while others which are in its developing stages. With this kind of massive investments, the Dubai real estate market is beckoning investors far and wide. Dubai is the investor’s paradise, here the investors are spoilt for choice, and Dubai offers the ideal environment to buy property. Here you can invest in towering buildings to beach villas to restaurants, you name it and you have it. Such is the lure of Dubai that it has attracted several star celebrities such as the soccer star David Beckham and his posh wife Victoria and also the likes of Rod Stewart and Michael Jackson.
It is untrue that only elite class can buy property in Dubai. In fact there are locals of the emirates who are increasingly buying property instead of paying exorbitant rent to the landlords. Due to the rise in real estate investment there has been a major increase in the number of real estate agents and dealers who are having a flourishing business.
In Dubai the mortgage market is still in its nascent stages, but there are other schemes of payments available that aid property buyers in Dubai. The city is pulsuating with the kind of energy that its real estate market is having. If you invest in the real estate market you are guaranteed to emerge as a winner. You may either choose to sell your property or rent it, no matter what you choose high returns are on the card. You can also buy a holiday home in Dubai for there is no other place in the world where you can get the kind of luxury that Dubai offers.
The rent in Dubai is steadily increasing, but this shouldn’t be taken as the norm, as very little of the property has actually been developed others are still in their development stage. While Dubai is witnessing a construction boom, the boom is skewed, it pays more attention towards the development of villas and luxury resorts leaving out the home for poorer section and the labor class.
Another problem that is common is the bad traffic conditions that prevail here. But hopefully with the development of monorail much of the pain will be eased.
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