Dubai Properties – New Love of Investors
December 17, 2009 by admin
Filed under Tourists Attractions
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Dubai is the fastest growing city in the world and it’s properties are the most demanding one. As a consequence new villas, apartments and luxury bungalows are entering everyday in the market. Dubai doesn’t levy any tax on the property and it leads to have more investment by the foreign investors. Investors can expect heavy return on their investment. It has stable and solid real estate market. The heavy return from Dubai properties has leads to more demand for it. The massive returns on investment that was made on Dubai properties has pushed up the cost for expatriates and locals who wish to purchase private or commercial property who are worry about to live in Dubai whether afford or not.
In 2002, Dubai’s government has opened the door for foreign investors and passes the rule of freehold hold properties for outsiders. The rapid profits from the properties have lead to awareness among worldwide and a hurry to invest in Dubai properties. If you are planning to purchase commercial properties in Dubai, it is advisable to do research first. Don’t expect to jump off a flight and look for a short-term profitable investment. If you are new at Dubai, you should to be wary and take advice before purchasing any properties. You should spend some time to find trusted person over any perception deal and compare it with other different regions. You should not buy unseen property.
Dubai as stated before has a tax free law that means no taxes are levied on those people who desire to endeavor into Dubai real estate. There are presently lots of property and real estate projects which are coming up in different localities in the city like Jumeriah beach residence, The Walk, The Executive Towers, Business bay, Bay Avenue and The Villa. Dubai is the ultimate place to make investment in real estate. You will get various sorts of apartments varying from to three bedroom apartments, studio, luxury homes and villas being build and put up on sale.
Modern Dubai: Stable Government Supporting in Architectural Advancements
November 21, 2009 by admin
Filed under Tourists Attractions
Despite a slowdown in the global economy and increasing prices of petroleum, Dubai property market is registering a faster growth. The ongoing growth pace in the property market has surprised investors by offering them a manifold increase in their initial investment value. Also, the city’s growth continues to confuse the market experts and media industry, proving them wrong and performing exceptionally well. Also, the cosmopolitan nature of Dubai is encouraging millions of tourists to visit this exceptional city that offers everything to amuse their senses. Be it visiting to great entertainment parks or looking for taking a trip to some of the most famous shopping malls, Dubai property has a lot to offer for everyone. The arrival of a larger number of tourists results into more profitability and improved serviceability. Evidently, Dubai has become a complete heaven, offering something for everyone.
Supportive governance
Dubai’s development is backed by the strong commitment and vision of ruling Al Maktoum family, which came to power in 1883. The rulers’ ability to take successful decisions for laying out foundations of result-oriented infrastructure has transformed Dubai from a barren land into an international city. Supported by the cash flow from increasing tourism, world-class property development and flourishing oil business, Dubai’s economy is expanding to the next level. To make it an international city, Dubai government has opened its doors for foreign investors with effect from June, 2004. Now, foreign nationals can invest in any freehold property and enjoy the full owners’ rights. Also, they can own well-build apartments, commercial property and others to secure a place of their own.
Dubai: Home of architectural wonders
Being an attractive property destination, Dubai is the home of many firsts in the architectural world. For example, the world’s first seven star hotel ‘Burj Al Arab’ is in Dubai. The city is the home of ‘Burj Dubai’ the world’s tallest building. As a result tourists as well as investors flock in large numbers to get the glimpse of some of the best architectural improvements in Dubai.
Buy Dubai Real Estate
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 characterized 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 center 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 is 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 clamoring 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 – 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 center, a polo club, a village center and an English-speaking school – 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.
For more information visit Buy Dubai Real Estate and Dubai Real Estate Market
Property in Dubai, Abu Dhabi – Guide to Buying Property in the United Arab Emirates
In recent years, the government of Dubai has reformed the property laws in that country. Through this reformation process, more and more people have found that buying residential real estate and investment real estate in that country is ever more attractive.
Historically, many foreign nationals were reluctant to invest in real estate in Dubai because there was a great deal of uncertainty as to exactly what type of real estate interest a person could actually obtain by investing in real estate in that country. Specifically, the most desired type of interest in real estate is what is known as a freehold estate. Legally speaking, in Dubai and in other countries the world over, a freehold estate is one in which a person has an absolute interest in a piece of real estate and can convey that real estate to any other person or entity without any encumbrances to such a conveyance. It is the state in which a person has an absolute ownership interest in a piece of real estate.
Investment Property in United Arab Emirates – Dubai
Far and above, the most common type of real estate purchase that foreign nationals are making in Dubai involves investment real estate. In recent years, the government of Dubai has made a concerted effort to draw more foreign investment into that country than at any other time in the history of Dubai.
By way of example, a significant number of foreign nationals have invested in business and commercial property within Dubai. More often than not, a group of foreign investors tend to come together to invest in a particular commercial property in order to spread the risk a bit. Even though Dubai is one of the more stable countries within that particular region of the world, the Middle East remains something or a powder keg and the future stability of the region is always a concern.
Residential Property in United Arab Emirates – Dubai
The demand by foreign nationals for single family dwellings historically has been nominal. However, in the past decade, the number of people from different nations who can be found seeking single family dwellings in Dubai has increased by nearly 100%. There are two primary reasons why more foreign nationals have become interested in single family dwellings within Dubai.
First, with Dubai and its government becoming more interested in playing a larger role on the world’s economic stage, there has been something of a concerted effort at attracting foreign business enterprises to that country. As a result, there are more foreign nationals who have elected to purchase real estate in that country for residential purposes.
Secondly, throughout much of the Arab world and into Europe and Africa, a growing number of people from these other nations have begun to look toward Dubai as a place to maintain vacation or holiday property. More and more people have elected to make the purchase of second residence in Dubai for vacation and holiday purposes.
Residential Real Estate – Apartments in United Arab Emirates – Dubai
As mentioned previously, due to the influx of foreign nationals into Dubai over the course of the past decade, the demand for residential property is on the increase. Many foreign nationals have turned to purchasing and owing apartments for residential purposes.
Generally speaking, even rather luxurious apartments can be purchased in Dubai for comparatively reasonably prices. For example, a person generally can make the purchase of an apartment in Dubai that would cost considerably more for a comparable unit in many other countries around the world .
Holiday Property in UAE Holiday Resorts
As referenced previously, a growing number of people have begun buying and owing vacation property within Dubai. This includes foreign nationals who are turning to Dubai as a place to travel to for vacation or holiday purposes.
Because Dubai is one of the most stable nations in all of the Arab world, many more well to do people from other nations in the region are turning to Dubai as a location in which they can own second or vacation residences. In addition, a growing number of Europeans are also taking to purchasing vacation properties within Dubai. The trend towards the ownership of vacation property by foreign nationals in Dubai is expected to increase over the course of the next two decades, according to real estate analysts who have spend a great deal of time considering real property trends in Dubai.
Specific Steps to Buying a Property in United Arab Emirates – Dubai
Since the 1940s, most foreign nationals who had an inclination to purchase real estate abroad have shied away from buying such property in any of the countries in the Arab world. There are two primary reasons why so many foreign nationals historically have avoided buying real estate in Arab countries, including in Dubai.
First of all, as news reports have recounted over the course of the past sixty years, the Arab world is far from being the most stable region in the country. Wars and violence have been common occurrences within that corner of the world.
The second reason why so many foreign nationals have avoided buying and owning real estate in the Arab world rests in the fact that the laws governing the ownership of real estate in many of these countries has been complicated and structured in such a way that it overtly discouraged foreign investment in real estate. Indeed, many countries that make up the Arab world have prohibited foreign ownership of real estate during much of the past fifty to sixty years — including to the present day.
With all of that said, Dubai has been on the vanguard of creating foreign-friendly real estate laws that encourage the investment in real estate by foreign nationals. First and foremost, the laws in Dubai have been reformed to make it abundantly clear that a foreign national can purchase and own outright real estate within that country. A foreign national can obtain a freehold interest (as has been discussed previously) in real estate in Dubai.
In Dubai, the first step in buying real estate is an oral offer to a seller. In Dubai, a foreign national needs no special permission to make the purchase of real estate in that country. In addition, unlike some countries (including some in the Middle East region of the world), a foreign national can own real estate directly and does not have to bounce through an extra set of hoops towards the goal of buying and holding real property.
Following the acceptance of the oral offer, an initial real estate sales contract is drafted and executed between the parties. A deposit — in an amount negotiated by the parties — is placed at this time by the buyer to the seller. Generally speaking, the deposit is not refundable unless the seller of the property is unable to convey ultimately the real estate to the buyer. In other words, barring some snafu by the seller, a buyer will lose his or her deposit if he or she backs out of the contract.
In Dubai, a mortgage lender from nearly any country in the world can provide financing for the purchase of real estate in that country. What one needs to bear in mind when buying property in Dubai is that many times a lender will require collateral beyond the property located in Dubai, beyond the real estate being purchased. In most real estate transactions the world over, the only collateral the lender requires for a mortgage loan is the real estate itself that is buying purchased. However, when a foreign national is making the purchase of real estate in Dubai, a mortgage lender in most instances will require collateral beyond the actual real estate situated in Dubai that is being purchased.
The primary reasons for the requirement for additional collateral when obtaining a loan to purchase real estate in Dubai include the general instability in the region. There is a concern on the part of some mortgage lenders that something might cause a disruption in Dubai that might effect the real estate collateral in that country. Thus, the typical lender will want additional collateral for any loan. Additionally, while the real estate related laws in Dubai are very liberal, there is always some concern that a new regime might take control of the country causing a disfavor able alteration in the real estate laws in that country. Again, for that reason, lenders desire additional protective collateral in regard to the purchase of real estate in Dubai.
With this in mind, when purchasing real estate in Dubai, it is imperative that a potential purchaser makes certain that he or she has access to other property that can be used as additional collateral for the purchase or real estate in that nation.
Once the various requirements of the initial contract are satisfied — the buyer obtaining financing, the seller making certain that the property is free of any encumbrances that might prevent a conveyance to the buyer — a final contract is executed, the remaining money due to the seller is paid and a deed for the property is given to the buyer who will become the new owner of the real estate at that juncture.
Property Abroad always recommends using a Solicitor or Lawyer.
