Dubai Property Attracts Investors All Over the World

by : layla

Dubai today is flashy, fun and slightly surreal. Renowned for its sand, sun and shopping, it was once a tranquil town of coral-and-gypsum courtyard houses built by Persian traders and palm-frond huts housing Bedouin fisherman and pearl divers. Today shiny new skyscrapers reflect the mosques and wind towers of Old Dubai.

Having expanded along both banks of the Creek, Dubai is divided into two parts - Deira on the northern side and Bur Dubai to the south. Each has its share of fine mosques and busy souks, of public buildings, shopping malls, hotels, office towers, banks, hospitals, schools, apartments and villas. Dubai is blessed with golden sunshine and silvery beaches, world-class golf facilities and an upcoming Sports City.

Dubai has year round sunshine, an attraction that cannot be underestimated. Quality of life in the city is at a high level and Dubai property is benefiting from this.
Dubai is an overseas property investment heaven. Investors have flocked from worldwide to buy Dubai property, to take a piece of the potential that the city has.
The increasing demand of Dubai property can be explained to some extent by the advantages that you are likely to enjoy as an owner. You can get a Residence Visa if you buy Dubai property. The cost of the property is relatively low here.
You will only be required to pay the registry fee and are no legal fee or stamp duty otherwise. If you are a foreigner you can get mortgages to buy real estate. The quality of the completed Dubai property is very good.
If you buy property or rent it you will not be expected to pay any capital gains tax or income tax. An ownership of Dubai property can be further desirable, as it is a nice city where there is hardly any crime.

While the cost of Dubai property has been increasing, it is to be noted that compared to international standards the costs are still relatively low. This means that any investment in Dubai property is a chance to rapidly increase capital appreciation by a big margin. Considering the bullish state of the real estate market, any investment in Dubai property over the next few months or years will yield excellent results.

Despite predictions that there has been an oversupply of property on the market in Dubai, the opposite has been true, there is higher demand for Dubai property than the amount of property that is being built. As the city prospers, a greater number of people move to the city in search of work, driving the demand for housing. The fact that there is strong demand for one bedroom apartments has a lot to do with the fact that expatriate workers have been moving to Dubai in ever increasing numbers as more foreign businesses move to the city due to tax incentives and quality of life.

The government of Dubai is very much in favor of using the property market to attract wealth and a booming economy in Dubai, the government has invested heavily in the city and the infrastructure, attracting wealthy investors and always looking to be one step ahead of the competition. The world's only 7 star hotel in the city is a testament to the government's desire to attract the super rich and create a heaven in the middle of the desert.