Buying Property in Dubai

In the global real estate arena, buying property in Dubai has become the hottest market. Dubai is now synonymous with ambitious mega projects that have gained worldwide recognition, such as Burj Dubai (the world’s tallest tower) and The Palm Jumeirah. In May 2002, the Government of Dubai instituted new rules, regulations and laws in the Emirate to regulate the market, protect the rights and interests of consumers, and to ensure Dubai property investors receive the highest possible service standards from real estate agents, brokers and property developers. This law thrust the Dubai real estate industry into an enormous boom that is still going strong today.

With approximately $90 billion invested in property developments either completed or under construction, buying property in Dubai has never been more happening. Dubai provides the ideal environment to buy property. Buyers are spoiled for choice with various types of property suited to all lifestyle and budget requirements. From towering city apartments to luxurious beach front villas and free zone offices, Dubai is the new international property buying destination.

Buying property in Dubai is not just for the wealthy upper class. Many residents of the city have found it more worth while to purchase their homes instead of paying exorbitant rents to landlords. The Real Estate laws and regulations are in place, and a number of additional laws are in the pipeline such as the mortgage law and the time share regulation.

Many developers offer special interest free payment plans when buying property in Dubai, while some buyers take advantage of up to 99% mortgages for residents and non-residents alike. Anyone acquiring property in the UAE automatically receives a residence permit, although this does not entitle them to work there. Purchasing property in Dubai is an almost guaranteed return on your investment, whether you wish to rent or sell your property. There is no better place in the world that will offer you the kind of luxury environment than this City of Gold.

Prime locations of Dubai will always be in demand and are likely to provide excellent investment opportunities in the long term.   It is unlikely that these locations will see an oversupply when only so much can be developed in one area.  There are 15 Free Zones where developers can build freehold property available for purchase by non-nationals. 

Dubai is without doubt one of the most interesting real estate markets in the world. Besides its architectural highlights, rich returns, impressive growth rates, a tax-free environment and a number of other advantages, as a business location it will continue to attract investors from all over the world.