| Buying overseas property is not always for the | | | | are now. |
| fainthearted but we think Dubai is an exception to | | | | 7. Demand for freehold property in Dubai is much |
| this. Here are eleven reasons to buy in Dubai: | | | | higher than most people can comprehend and |
| 1. Property prices look cheap by International | | | | understand. Certainly an economy growing at 10% |
| standards, and rental yields are still high in Dubai. | | | | plus a year has a dynamic effect of its own that |
| 2. Rental Market: Long-term residents of U.A.E. are | | | | reflects a huge demand for accommodation. |
| considering buying to replace rental payments and to | | | | 8. Sound Market: Any property market is going to |
| take advantage of the ever increasing market | | | | have its ups and downs, and Dubai will be no |
| demand for property in Dubai. | | | | different. All the same, Dubai has a habit of |
| 3. Future Development: There is a big change in the | | | | frustrating those who wait for bargains. In 1998 |
| city's geography underway with huge plans for the | | | | some thought rental prices would collapse. It did not |
| future. What is the fringe of Dubai today, the Dubai | | | | happen they are still on the up as is Abu Dhabi. |
| Marina, will be uptown Dubai of tomorrow. Thus | | | | 9. Dubai wants you: Dubai is in the process of |
| property values will follow this curve upwards, as | | | | creating an international property market from |
| people relocate to the new "Centre". | | | | scratch. As a result overseas property buyers are |
| 4. Good Prices: Comparatively property is cheap | | | | being given an exceptionally good deal to encourage |
| compared to other major cities in the World. Dubai | | | | them to be the pioneers of this market with very |
| villas cost around $1,000 per square metre. London | | | | low deposits. |
| on the other hand are selling apartments in London | | | | 10. Resale Market: As the second-hand market |
| Docklands area at $5,000 per square metre an | | | | emerges and the legal position of owners becomes |
| amazing difference. | | | | absolutely clear, the element of risk will go, and lower |
| 5. Prime Locations: Oversupply is the main fear | | | | risk will mean higher property prices. |
| highlighted by skeptics. But there can only be so | | | | 11. Economic Growth: Dubai is a city where a lot of |
| many properties in prime locations and the time to | | | | people earn high tax-free salaries and are in a position |
| buy them is now. Most projects are now fetching | | | | to support higher house prices. This is a city with a |
| three times their original price. | | | | 20-year track record of strong economic growth and |
| 6. Freehold Laws: Legally, there is no law to prevent | | | | will continue to attract foreign and regional inward |
| freehold purchase in Dubai, and a new federal law | | | | investment for many years to come. |
| should shortly frame legal rights into a form | | | | So why not buy in Dubai - it could be the best thing |
| acceptable to international banks for mortgages this | | | | you ever did! |
| will push demand and prices up even higher than they | | | | |