The fascinating thing about the property market in the UAE is that in spite of the rest of the world reeling under the strain of the credit crunch, mortgage market meltdown, inflation pressures and currency problems, the UAE and Dubai real estate markets are not just surviving, they are thriving!
The reason for the current buoyancy in the UAE is largely down to the fact that local investors are reining in their overseas ventures because of the above list of issues and they are focusing significantly on investments in their own backyard. So property in the UAE and in Dubai in particular is doing quite nicely thank you out of the fact that interest in the region is certainly not abating.
High End Luxury Property in Dubai Bucking the Pricing Trend
While us mere mortals worry about our mortgages and what the lack of credit and affordability in a market means for everything from our day to day living costs to the value of our homes, the super rich and mega wealthy are seemingly unaffected and are going about their daily business as if all in the financial world was perfect!
To prove this point, high end, luxury property in Dubai is bucking the pricing trend, and it’s the super expensive properties that are flying off the realtors’ books according to a report in the Sunday Times.
Brits Own More Property in Dubai
It’s official, the British love affair with real estate in Dubai means that now the British own more property in Dubai than any other foreign nationality, and it seems that the British thirst for Dubai homes is not abating either!
With the news that the UAE offers the highest expat salaries and that expats in general earn far more than their peers back home also just released, we can expect to see a strengthening surge of UK citizens head for the United Arab Emirates for employment and this will also have a positive effect on the housing market in terms of demand.
Dubai Property Investor Latest News
With news that Dubai based Emaar Properties, which is the largest property development company in the Middle Eastern region by market share, is about to take over the US and European property construction scene, what’s happening locally in Dubai’s property market that is of valuable news for property investors?
Well, the answer is quite a lot – so just when you thought that maybe Dubai’s real estate landscape was going off the boil in terms of demand or affordability, you need to think again!
Alternatives to Buying Property in Dubai
By now it’s such an incredibly well documented fact that the Dubai property market is so hot there’s steam coming off it – and it has been in such an agitated state ever since a relatively tentative announcement was made that foreigners would get the right to own freehold property within the emirate. Now that that announcement has become reality, the market has matured nicely and is a thriving addition to the economy of Dubai. The downside of all this great news is that if you haven’t already bought real estate in Dubai you may well be priced out of the market and/or have missed your opportunity to profit significantly.
So here’s something to soften that blow – there are alternatives to buying property in Dubai for those who love the wealth of the region, the type of real estate market emerging across the UAE and who want to potentially enjoy substantial positive movement in terms of the value of the assets they buy. There are emerging pockets of property based potential across the UAE in locations such as Abu Dhabi, Ajman and Ras Al Khaimah…
Where Next for the Property Market in Dubai?
Since the right for foreign nationals to own freehold property in Dubai was passed into law, the prices for residential real estate in the emirate have famously gone through the roof. And even before the law was passed, many chose to speculate on the real estate market in Dubai and they have since gone on to profit substantially.
Now, having seen the pattern of house price appreciation in Dubai, developers and investors are turning their attentions to the likes of Abu Dhabi and Ajman where the real estate markets are emerging and where there is greater room for profit potential, so this bodes the question, where next for the property market in Dubai?
Until 2002 it was not possible for foreign nationals to own freehold title to property in Dubai...however, in a bid to boost investment into Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum announced that he would change the laws back in 2002 and a property boom ensued.
Until 2006 however, the law change was not in effect and those who bought beforehand took a significant risk. They were also the ones to gain substantially from the huge rise in real estate prices that the emirate has enjoyed! Nowadays buying property in Dubai is incredibly straightforward and safe, and you can even get mortgages locally or internationally to assist your purchase. In this article we cover the Dubai property buying process.
Buying Property in Dubai to Let
As the property market in Dubai continues to explode, along with the population, many would be investors are eyeing this emirate with extreme interest. If you’re considering buying property in Dubai you are in excellent company, with investors coming from all over the world at the present time, this little region is on fire with growth. Should your intent be to buy-to-let real estate in Dubai however, there are some things you should keep in mind.
Dubai is a popular expatriating, holiday and investment market, but its government is serious about a few things. Just as sure as the Dubai landscape is beautiful, warm and loaded with activities, the government takes its own rules very seriously. In this article, we’ll explore buying property in Dubai to let and one particular practice that could get you in trouble if you don’t know what you’re doing.
Buying Property in Dubai Getting Boost From Hollywood
With its incredibly beautiful beaches, holidaymaker friendly atmosphere and wildly cosmopolitan flair, Dubai is attracting investors, expats and retirees from all over the world. As its population explodes, moving closer to the targeted doubling in 2010, many wonder what else might happen here that could possibly draw more interest. Well, it seems quite a lot.
Taking off on the idea that Dubai has become the playground to the world, the Emirate is in the midst of adding greatly to its entertainment options. From the USD 11 billion Arabian Canal to the new cricket facility, work is already well under way to make sure visitors and emigrants here have plenty of fun things to do. These projects however, are not the only ones in play to ensure Dubai’s standing as a major holiday destination. To bring the Emirate to the next level, it’s decided to add some of the stars and sparkle of America’s Hollywood and buying property in Dubai is getting a boost from Hollywood as a result.
Buying Property in Dubai Set to Become Even Easier
With demand far outstripping supply, buying property in Dubai is indeed an attractive prospect for investors with enough money to buy in. Unfortunately, financing within this coastal country has traditionally been quite difficult for foreign buyers to attain. All of that is changing, as Dubai prepares for an anticipated population explosion that should double its 1.3 million populace by the year 2010.
In this article we’ll take a look at recent developments that make buying property in Dubai more feasible. We’ll also explore some of the reasons why many investors believe Dubai is a very hot prospect and show you how buying property in Dubai is set to become even easier thanks to new mortgages from Barclays.