Dubai property Is Over - Hardly

It seems that every time I tell someone what I do,I get the same reply. It goes something like this

“Dubai property is over,yesterdays news”

“Really?” I say,

“Absolutely,it was booming a few years ago but not anymore”,

“According to whom?” I ask

“Everyone”

Good news all round

It seems that the property developers don’t share these concerns as billions of dollars have been invested into projects newly announced this year. The largest project announced in Dubai to date was announced this year. Capital values haven’t stopped increasing and concurrently neither have rental values.

The finance market is on the up and starting to mature. A broader range of finance products have been announced by existing banks offering more sophisticated and developed options as well as many newer banks moving in and presenting their spectrum of products.

There are also an endless number of articles by financial advisers which sing the praises of investing in Dubai property. These cover topics such as the new property laws that have been introduced which have supported international investment in Dubai through to anecdotes about 25% of the world’s cranes being located in Dubai.

It is hard to believe that so many large organisations that have invested billions in Dubai have not done their due diligence beforehand.

No news is bad news

It seems that the concerns of the naysayer arose not from negative reports of Dubai but rather a lack of positive ones. All this information is not filtering through to the public at large,at least not in the UK. Dubai is no longer mainstream news as it was five years ago. The novelty of giant artificial islands or an entire brand new city made from the ground up in the desert has worn off. In order to find new information,specialist news services on the Middle East or international economy and property have to be read.

As a result people are not as excited about Dubai property as they were five years ago when it could be argued that it is now a more exciting time. Emirate Ventures Ltd,a UK based Dubai property agency,has seen a healthy level of inquiries and sales continue despite this change in perception.

Everyone is an expert apparently,but the real experts agree that Dubai is not over by any means. It has matured and continuing to grow at a very healthy pace.

Dubai or not to Buy? A Short Assessment of the Dubai Property Market

Never has there been such an ambitious and creative drive to establish a property market as has been witnessed in Dubai over the past three years. Running short on oil reserves,Dubai’s crown prince,Sheikh Mohammed Al Marktoum,set out to turn Dubai into the financial,commercial and tourism capital of the Middle East and in the space of three years he has more than succeeded. The country’s GDP has expanded by 17 per cent over the past year and HSBC Bank estimates that there is .5 billion worth of projects under construction,compared with billion for the rest of the neighboring oil states put together.

The result has been the rise of Dubai as the world’s most glamorous property investment market. Nothing in Dubai is understated. The tiny emirate,that only five years ago was nothing more than a simple fishing village has suddenly become the Manhattan of the Middle East. Following the mantra ‘bigger is better’ Dubai has proudly announced the world’s first seven star hotel,Burj Al Arab and is set to construct the world’s biggest shopping mall,the first underwater hotel and amazingly,the longest indoors ski slope.

Already the annual number of visitors stands at 5 million and is set to rise to 10 million by 2007. The scale of development has been unprecedented with apartment blocks being constructed by the dozen and selling out within days to hordes of zealous investors prepared to queue overnight to bag a bargain in Dubai. The projects being released are some of the most inventive and ambitious the world has seen,with man made islands such as The Palm and more recently The World capitalizing on the attractions of beach front living and redefining the world’s geography in the process.

With real estate as out of the ordinary as this,it’s not difficult to see why Dubai’s property market is attracting such large-scale international interest. There really is nothing like it and it seems everybody who’s anybody will have a piece of Dubai. Dubai’s more exclusive developments are being snapped up the celebrity classes and the world’s elite. Ageing English rocker,Rod Stewart is already the proud owner of Britain [The World's miniature Britain that is!] and villas along the Palm are being bought by sports stars,film stars and anybody with upwards of €1.5 million to spend on a private waterfront retreat.

If so much has been achieved in three years,where is Dubai to go from here? Nakheel,the company behind the extraordinary Palm and The World projects already has its eye,literally,on a new development. Dream City,like the Palm is also a series of man made islands but out sizes the Palm significantly. When finished,Dream City will form the shape of an eye,with the residential element on giant eyelashes extending out into the Persian Gulf. Villas at Dream City start at €425,000 for around 371 sq m (4,000 sq ft) of accommodation. Townhouses start at €200,000,while one and two-bedroom apartments start at €150,000.

For the property investor seeking a lucrative return,a new market is always a risky one and the fear is that the market may collapse soon after it has taken off!. With plenty of anecdotal evidence to suggest that property prices in Dubai are rising by as much as 60% in one year,it’s tempting to rush straight in and grab a piece of the action. But the canny investors will have to consider if it is too much too fast.

The pace of the property market in Dubai makes is a speculators dream. It’s not unheard of for properties to have been transferred up to a dozen times even before the building is complete. Many opportunistic investors are booking 10 to 20 villas in new developments,selling them at significant profits before they have been completed.

Cashing in on this and perhaps in an effort to cool the market,builders are charging a fee of up to 7% each time a property is transferred and lending institutions are trying to keep some control on the market by agreeing to finance only the original sale price. In the secondary market,prices can exceed the original price by 10-70%,depending on the development’s popularity.

All the indications are suggesting that the initial hype is easing and prices are settling. A year and a half ago 900 houses in one development sold out in 7 hours. Many believe that demand will continue to be sustained and prices will continue to rise,though not at the frantic rates they have been rising over the past two years.

In comparison to other new and emerging markets,such as those in Central and Eastern Europe,Dubai appears to be a more attractive investment. Prices in the middle market are comparative to those in Eastern European cities such as Tallinn and Krakow. Unlike these countries Dubai has the sunshine factor and a glamorous edge,which is surely contributing to the high immigration from Europe,the Gulf Region and the Indian subcontinent. Over 100,000 extra people are expected to arrive in Dubai every year. Such large-scale immigration is sure to sustain the property rental markets.

Other property markets are seeing rental yields drop through the floor. Too many investors buying up properties and not enough tenants to rent them! Ireland,Britain and many of the New European capital cities are seeing yields drop to below 3%. In Dubai,rental yields have dropped from a very healthy 8-9% but are now holding firm at 6-7%. The fact that in Dubai rents are paid in advance,sometimes up to one year in advance,is surely a motivating factor for those considering a buy-to-let property in Dubai. On the downside,service charges on new development can be high,anywhere up to £4000 per annum and may be requested by the developer upfront!

Despite the current boom and huge immigration into Dubai cautious investors are raising understandable questions about the security of ownership in the UAE. As yet,no law has been passed to confirm the right of foreigners to own property in any of the projects launched to date. However,the UAE allows individual emirates to issue their own legislation to regulate ownership of real property. While Dubai is committed to encouraging overseas investment,they rule by decree and decisions can be changed overnight the whim of the current ruler. The government have promised that freehold would be granted in the near future. When this happens it is likely to further boost investor confidence in the Dubai property market.

If the property market in Dubai is to develop with any degree of stability,capturing the interest of second homeowners and expats seeking to relocate is essential. If the market continues to be speculator driven,the possibility of a speculative bubble is not unlikely. A revision of property ownership laws for foreign investors should encourage a more stable property investment climate,helping to avoid any crash that might be caused by a quickly exhausted investor base of opportunistic speculators.

Dubai Real Estate Agent Company - Property Buying & Selling in Dubai

Dubai Real Estate Agent Company - Property Buying & Selling in Dubai

The luxury lifestyle that Dubai offers is perfect for the discerning tourist; the city boasts over 30 five-star hotels,and has more hotel rooms than Miami Beach. A wealth of first class restaurants conjures up a world of tastes from around the globe. In fact,the only difficulty you’ll have in terms of food is making your mind up what to choose. From Japanese to Lebanese,the variety of restaurants in Dubai is the best in the region.

If you enjoy sports,then Dubai is leading the way in the Middle East. Prime sporting events held annually include the Dubai World Cup (the richest horse race in the world),International Power Boat Racing,Dubai Desert Classic Golf Tournament,Dubai Tennis Open and the Dubai Rugby Sevens. Dubai also offers a great range of choices for the active visitor: a selection of some of the world’s best golf courses,water sports,and unique opportunities for desert adventures.

If you like to shop,then Dubai is a dream; if you are not a shopaholic,and then prepare to become one. Whether it’s refined boutiques or grandiose shopping malls or great value independent outlets,there is something for everyone. Retail is such an important part of Dubai that there are two festivals a year to celebrate shopping: the hugely successful Dubai Shopping Festival (January - February) now attracts more than 3 million visitors,while the Dubai Summer Surprises has been unleashing summers of fun and learning since the summer of 1998.

Dubai real estate agent is providing residential and commercial accommodation both for purchase of freehold properties and leasing property on rental basis. The company is based in Dubai with business extensions in Abu Dhabi and Ajman. The company specializes in all aspects to the property market within the UAE and Dubai mainly. Commercial freehold office space for buying within the very popular Business Bay area is overseen by their commercial team of consultants,whether it is the iconic Iris Bay,One Business Bay,Opus,Gemini,The Binary,B2B Tower,Churchill Executive,or any freehold office space to purchase.

Residential accommodation is overseen by their experienced sales consultants who specialize in all freehold areas,where it is a freehold luxury villa,apartment,penthouse or even a studio,in Arabian Ranches,Discovery Gardens,International City,Jumeirah Islands,Meadows,Springs,Al Barari luxury villas,Garden Homes to Signature villas on Palm Jumeirah,and yet to be delivered on the secondary resale market Palm Jebel Ali.

Dubai,a great place to live! The Dubai Properties and Real Estate is a reserve center for assets long term investment and real value for money. We real estate agent’s services,where you will find a capital of sequence on several kinds of Chapter as well as property selling,buying,rentals,real estate agents,Dubai housing market updates,mortgages / home loans,Dubai freehold properties,relocating,Dubai real estate investing,trends,financial analyst,Middle East real estate news and professional reviews.

Freehold Properties: The core idea behind Freehold in the Dubai/United Arab Emirates was implemented in 2002 with Dubai chief the way. In a familiar sight travel,the Dubai government legalists overseas possession of properties

Find property buy and sale in a row for all of UAE together with Sharjah,Muskat,Abu Dhabi,Ajman Ras Al Khaima and Oman Al-Quain Whole United Arab Emirates.

Dubai Property Sale

The Dubai Property Market has never been stronger than it is at this moment and
foreign investors are flocking to the shores of the emirate to take advantage of the
real estate boom. Rapid development has characterised the cities and sandy beaches
or desserts have been forced to give way to skyscrapers,artificial lakes and
massive retail spaces. What’s more,the local government encourages this growth by
maintaining a no personal,sales or corporate taxes policy. Such steps have had a
tremendous impact on foreign investment and have allowed for a number of
mega-projects to be staged in this glorious city. What’s more,Dubai’s rapid
development has not resulted in city slums,poor building and a strained
infrastructure. The economy has benefited in ways never before imagined from such
mass investing and the standards of living here are higher than in most other parts
of the world. It is facts like these - combined with the striking beauty of the
ever-expanding facade of the city - that has earned the city the nickname Pearl of
the Gulf.

In a geographical region with a reputation for political instability,Dubai has
separated itself from issues that affect surrounding emirates and has instead
established itself as a holiday home haven,a regional hub for finance and trade,a
notable tourism destination and even a centre for technology. All these factors
continue to influence the ever-growing property market and as a result,the market
is set to continue to blossom for at least the next decade. What’s more,the
government has recognized the positive impact of foreign investment on the local
market and are taking steps to abolish protective property laws so that this
investment can continue to take place with less hassle. While certain aspects of
property ownership and residency rights for foreign investors still need to be
firmly established,the liberal attitude towards property laws in Dubai not only
encourage investment but,in some cases,serve to be most profitable for the
investors.

The immense growth and rate of investment can perhaps be best seen in several of the
mega-projects which have put Dubai on the architectural map. These include The World
Dubai,the Palm Jumeirah,the Dubai Marina and a number of Arabian Ranches. The
World is an impressive cluster of some 300 private,man-made islands. The islands
are shaped into the various continents of the world and are surrounded by a
breakwater. The total collection of islands covers an area of roughly 9 kilometers
in length and 6 kilometers in width. Reachable only by marine or air transport,the
World offers an opportunity for investors to own their own little island picturesque
and private. Investors are already clamouring to gain their hands on one of these
islands even though the project is not yet complete.

The Palm Jumeirah is similar in that it is an artificial landmass that stretches out
into the sea. It is shaped like a palm tree and is one of a set of three
mega-projects which line the coast of the city. Unlike The World,the Palm Jumeirah
serves as an island resort â not a residential area. The other two islands are
under construction and will be completed soon. The Dubai Marina is also entirely
man-made and is set to become the largest man-made marina in the world. The Marina
has been created as a sort of city in a city where people can all the exclusive
comforts of living in a world-class city. Upon completion it will have more than 200
high-rise buildings and cover an area of 50 million square feet. If the idea of
living on the shores of this mega city does not appeal to you,then you may wish to
turn your attention inland. The Arabian Ranches are set in the midst of a
fast-changing dessert,just a few minutes outside of Dubai. A great place to relax
and get away from the pace of the city,the Arabian Ranches feature an impressive
golf club,an equestrian centre,a polo club,a village centre and an
English-speaking school â to mention just a few.

As foreign and local investors continue to empower developers in this fast-changing
country,Dubai continues to maintain its place as a property haven. Desserts are
being converted to oases and sandy dunes to mega resort complexes or sparkling
marinas. Dubai is truly a testament to the ingenuity of man and the desire to see
ourselves living in a picture-perfect world. Get your little piece of paradise now
by investing in the Dubai property market

Dubai Property Rental Boom

With the growing population of Dubai increasing daily with new businesses starting,finding that home in Dubai has become extremely difficult. With currently around 3000 Dubai properties under construction including many super towers,many companies are finding problems obtaining reasonably priced Dubai properties for people to live in with certain areas of Jumeriah and Dubai Marina being the only places available to rent now. Recently my company was quoted ,000 for a year’s rent for a 3 bed property for an ordinary guy with a wife and 2 kids,looking to start at new life in Dubai. Many Landlords who got on the property ladder at the beginning of the property boom in Dubai are making fortunes with the rent of the properties that are now ready for occupation.

With new development calls for the office and commercial space this is certainly no exception,likewise rental prices have risen significantly for completed offices and often a bidding war taking place. New commercial releases are being snapped up even though they are overpriced by many investors looking to cash in from this shortage of rental properties.

The cheaper alternative is Ajman,a neighboring emirate. Properties can be found quoting a 25 minute journey time into Dubai,sounds like a great option but with construction traffic and employees commuting to work the road is gridlocked from 5am through to 11.00 am .It is hoped by the locals that the new Metro tram system which comes into operation in 2009 will take some of the traffic off the road,until then if you want rental property be quick because it is certainly a first come first served basis.

Dubai Property Options

iPod style development - New development authority of Dubai has decided to build a structure that resembles an iPod Mp3 player. Known by the name of “The Pad Dubai”,this building is located in Dubai Business Bay.

Omniyat properties of Dubai presented a model of this project,which has 230 apartments,at Dubai’s International Property Show which was held from 3rd to 5th of April,2007. These apartments will acquire Almasa Holdings which is a brand name in IT and Real Estate Markets,and is the parent name of Omniyat Properties. Authorities had decided that this building would include lofts,one and two- bedroom apartments and studio apartments. This is a 9 million AED property project and the minimum area available to the buyer is 581 sq.feet. According to property realtors in Dubai,1 bed room set in these apartment will cost 362,372 US dollars,2 bed room apartments will cost 901,158 US dollars,whereas studios will cost about 343,688 US dollars. Recently,similar 2 bedroom apartments in the Business Bay Area were sold for 550,000 US dollars by the Corporate Finance House.

Features of The Pad:

• The living rooms and dining rooms will be rotating 360 degrees so that one can admire the beauty of nearby water front and landscapes.

• Beautiful sights of the outer world can be enjoyed from the windows.

• Facility of video conferencing in the dining rooms.

• Lighting will adjust according to your mood and will respond to your telephone calls as well.

• Modern equipments provided for a healthy living.

The ultra modern style of room rotation is derived from Luigi Colani of Germany. In recent years,this method has been developed for aesthetic reasons rather than as a space saving device. The developer has planned to use rotating double beds in all apartments and make use of robotic features for robot vacuum cleaning.

There are many facilities listed for its residents which include parking spaces,retail areas,under water concert,Jacuzzi,aerobics section,basket ball court,etc.

Rotating tower for the first time in Dubai Property Market

For the first time in the history of Dubai real estate,rotating towers which resemble high skyscrapers have been introduced by the Dubai Property Ring. World Real Estate authority of Dubai had granted UK based developers to build 30 story rotating apartments. These apartments will require the power of 20 electric motors to rotate 360 degree in a week’s time. Nick Cooper,a British engineer working with MG Bennet and Associate of Rotherham,has been employed for the project.

Mr. Cooper was involved with drilling tunnels between London and Paris that allowed a free passage of Eurostar trains under the English Channel. In 1966,a part of London’s post office tower which was a restaurant,was made rotating. The idea of complete rotation of a building on its axis was really a novel one at that time. The British technology of rotation is being used after half a century on Arabic land. The rotating tower under construction in Dubai has a crescent moon lounge at its top. The future residents of this building can admire the scenic beauty of 23 rotating buildings which are to be built in future by Dubai Property Ring.

Dubai Property Market

Many investors,potential investors and casual observers seem to still have doubts about the safety of purchasing property in Dubai,even as the property market continues to expand through its fifth year. At the same time,the latest Cityscape Dubai event (4-6 December),which showcased both future and current projects,was once again a testament to the unprecedented scale of activity and level of enthusiasm in the industry. It was without a doubt a grand display of where the property markets in Dubai and the Gulf are and to where they aim to go.

Beyond the glitz and hype,however,the fundamental questions for investors remain:

* Will property on offer in fact make it to completion even once construction has commenced?

* Will the quality standards promised be achieved?

* Will delays plague the project?

…and not least,

* Will one’s investment be guaranteed,at least up to the time of hand-over,and beyond?

The Dubai Marina site of Damac’s Ocean Heights tower (8-Dec-06),launched in Oct. 2004. Originally slated for completion in 2007,now estimated by some for a 2009-10 completion.

The short answer to these questions is that results will vary by project and developer. The broader picture,as it were,is hard to comment upon with the relatively limited number of properties that have made it to completion and,even more so,with the limited amount of scrutiny paid by both the media and the government to problems and issues that have come up.

That being said,anecdotal evidence is available. One source is the Gulf News’ archives along with those of other local publications,where search queries can pull up news,good and bad,on both specific properties and the industry-at-large. The online forums of Skyscrapercity.com also offer a wealth of insight into the the real goings on in the property scene-it requires considerable sifting to get through the innumerable exchanges among forumers.

My own take is based on a personal,albeit perhaps biased,scrutiny over the year and a half that I have taken steps as an investor. The skinny,as I see it,is as follows:

* Emaar,among the large developers,shines. Its projects get built in a timely fashion and are of both satisfactory design and quality. This record may placate some of those who balk at higher purchase costs. While there have been complaints about build quality,there seems to have been no real disasters. By contrast,however,property management fees seem exhorbitant compared to other properties and what one gets for them.

* Nakheel has a mixed record,including a disaster or two,and it has in some measure yet to prove itself. The verdict on Nakheel should remain pending until handover of its Jumeirah Palm properties over the next half-year,should that highly-anticipated move in fact take place.

* The other large developers,including Dubai Properties,Sama Dubai,Damac and others,have yet to prove themselves,even more so than Nakheel. For most,significant delays appear to be the order of the day. Reassuringly,however,if the record of Dubai Properties,builder of the 40-tower Jumeirah Beach Residences complex,is anything to go by,then ambitious projects can and will be delivered,even if late.

* The mid- to small-size developers are a harder lot to classify,not only due to the fact that they are many in number,but many of their projects are yet in the early phases of build or development. There is,for example,Tameer with a 107-story tower and a 91-story tower under development in Dubai Marina,in addition to several other major projects on the drawing board. This perhaps wannabe major developer has no existing record of delivered or even half-constructed projects to evaluate.

Although Dubai Marina is a master-planned project of Emaar and contains a number of Emaar properties,it is in large part being built-up by mid- to small-size developers. This means that to really evaluate the merits of the development-at-large or any specific project,the reputation and record of the specific developer in question needs to be examined. The one generalization that one might make,however,is that excluding the JBR project,fewer than half of the Marina towers have yet been built with most of the largest ones not yet started or in the early stages of construction.

The big picture must take into account some of the dynamics of the Dubai and larger Gulf real estate and construction industries,which substantially impact the success or lack of success in each project. These dynamics include,

* a large unskilled,poorly trained and poorly paid construction workforce,

* intense competition for skilled and experienced managers,consultants,contractors and the like,and similarly

* tight supply of equipment and materials.

Added up,it is hard and will continue to be hard to get things right. The powerful,like Emaar,will have more leverage but likewise they will be less accountable to any individual client. The smaller players will struggle to get what they need to pull the job off,but it is more essential to their survival that they do,even on the smaller jobs.That being said enough work has been carried out over the past 5 years that the industry has begun to enter a middle stage where there is a significant level of expertise locally. Even the underpaid,overworked laborers in time pick up a considerable amount of skills on the job. As this happens,getting the job right increasingly becomes an attainable goal.

A look specifically at the ongoing projects in the Upper Marina or tallest block will follow,to shed some light on the individual projects there.

Dubai Property Market Prospects

Introduction: Dubai has been one of the biggest success stories in the overseas property industry. The growth in the market,which in the first 11 months of 2007 was reported to be 18.7 per cent in both villas and apartments,has sustained at a high rate for some years now,prompting some investors to buy sight unseen. Commentators are split as to whether this growth can be sustained,but investment in the real estate sector is predicted to provide 35 per cent of Dubai’s GDP over the next five years.

Supply & Demand: One of the biggest contributory factors in the growth of the Dubai property market has been the fact that demand has always managed to outstrip supply. The regular shortfalls in supply are often due to late-running projects and the immense speed of the influx of new workers and residents who all need somewhere to live.

Investment bank EFG-Hermes has reported that the market will be subjected to its biggest shortfall in supply in the second half of 2008,which means prices will hit a peak of sorts this year. After that,the report suggests,the market will begin to swing in the favour of buyers. It says there will be 64,000 units to come onto the market as available for occupation in 2008,and a further 68,000 in 2009.

Tourism: Tourism is the most important industry for the future of Dubai and is also its fastest-growing industry,with over 11 per cent of the GDP coming from holidaymakers,and generating .9 billion of economic activity. The introduction of huge new attractions will fuel the growth in tourist numbers,who will be serviced by the huge new Dubai International Airport.

On the other hand,the number of hotel rooms in the Emirate is set to rise by around 33 per cent per year until 2011,which has led industry watchers to suggest that hotel occupancy rates may fall as low as 60 per cent,compared to the current levels of more than 80 per cent.

Immigration: The lenient tax regime in Dubai has been one of the major attractions for property investors and a large number of businesses,many of which are multinational companies,and some of which have made their headquarters in Dubai. The investment banking sector is predicted to undergo huge growth in Dubai in 2008,adding to the internet and media hubs in the city. This brings with it an influx of people with large salaries who are looking for somewhere to live,and should also employ a proportion of the local population in well-paid positions.

Rentals: Letting property will be one of the most important parts of the future for the Dubai property market. Since November 2005,there has been a government-imposed rental cap at seven per cent of the property value in order to protect the tenant market from potentially astronomical rises in rental costs due to the gap between supply and demand. This cap is currently not due to be renewed at the end of this year,allowing landlords a completely free market. This will push many locals in Dubai to consider buying their own property instead of renting to protect themselves from the potential rises.

The real estate market in Dubai has had its detractors for some time now,people who seem to be keen to see the property buying boom there come crashing to a halt. However,Dubai keeps on fighting back,sticking resolutely to its free,tax-efficient methods. The result has been a highly modern centre of business excellence,leisure activities and innovative development.

Dubai Property Market Cooling

In Dubai there are now strong signs that the government is getting some sort of grip on the excesses of the Dubai property market - and about time too. We have long viewed the market as quite high risk. The market has an unusual set of drivers and is not exactly the most transparent place to buy property.

The huge amount of building there inevitably raises questions about oversupply,but seemingly so far demand has outstripped supply.

Price growth in some parts of Dubai has been reported to be an almost unbelievable 79% in 2007,that is on top of already impressive growth figures in the previous years. High growth is continuing in 2008.

Now in mid-2008 the government is stepping in to to regulate off-plan purchases,mortgages and are implementing a whole raft of measures to cool the market. These are likely to do the job they are intended to do.

Like some of the buildings in Dubai the property market has seemed to defy gravity. With high prices and more heavy government intervention I would be even more wary of investing in Dubai than I have been in the last few years. It remains to be seen where the Dubai property market will head next and whether the Dubai government can really use their oil money to turn a patch of desert into one of the world’s true commercial and financial centres.

Overall,I would avoid Dubai as an investment location,high investment returns can be made elsewhere for much lower risk.

Dubai Property Market - An Investor’s Viewpoint

The Dubai Property for sale market is probably one of the most watched and fastest growing property markets in the world, and has been for the past 2-3 years. Real Estate agents and agencies in Dubai are popping up all over the place and developments are rising out of the desert at a pace that puts most cities to shame. Property prices as well have been attractive for investors over this growth period, with many people who decided that buying property in Dubai is a smart move, are experiencing a return on investment (ROI) of sometimes 100% in a matter of two to three years. One shouldn’t expect this amount of growth to continue as the property market in Dubai begins to mature, but there are still an ample amount of attractive developments and financial incentives to make people think long and hard about Investment Property in Dubai. One of the most attractive things about the property market in Dubai are the new property laws that were established in early 2006, that put more stability into the property market, and helped to assure investors of their rights.

The property market in Dubai, however, isn’t for the novice investor and does take a bit of due diligence for those people looking to make some money. One of the most important factors to consider when thinking about buying Dubai Property is whether the developer is reputable. Since the property market has grown so quickly, it has left room for first time developers to attract investors with flashy pictures and 3D models of Dubai Apartments, but without any real experience in property development. Eventually this means a lot of new home owners are moving into their new Dubai property and finding lots of structural faults. That said though, the Dubai Property rent market has almost made this a moot point, as the demand for rental properties in Dubai are such that landlords can rent anything for near record prices and consumers have no alternatives. Hopefully with the passing of the new Dubai Property Law, this will be eased in the future.