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BUYING DUBAI REAL ESTATE
Palm Island, Dubai has already the ultimate luxury address. The Sail is recognised world wide, and the World is just astonding. There is no reason to doubt that property in Dubai is fast becoming the in thing for both investors and new residents.
In Dubai properties are cheap - both absolutely and relatively terms. London developers were recently in Dubai trying to sell apartments in the London Docklands at $5,000 per square metre. Villas in Dubai typically cost around $1,000 per square metre!
The Growing Demand for Dubai Real Estate
Dubai is a rapidly growing and cosmopolitan city. It's laws are fair (no taxes!), it's society stable and welcoming. The city is clean and safe. It is also fast becoming the commercial and leisure capital of the United Arab Emirates and beyond it, the Middle East. All of this is creating a shortage in the supply of property in Dubai.
The Shortage of Property in Dubai
The Dubai Government is trying hard to prevent this by encouraging developers, and giving them land is the best way to do this. But development will lag behind the demand curve. Dubai property developers have to risk their own capital, and in a real estate market with few developers they will tend to lag behind the demand curve to maximize their own profits.
Living in Dubai
The quality of life in Dubai is extremely high. Forget the popular image of a burning sun blasted desert. Dubai is located on the Indian Ocean and the weather for the most of the year (October-June) is simply lovely. It rains only a couple of times a year and temperatures range from a low of about 10 degrees Celsius to a high of 48 degrees Celsius. Which is anyones book is very pleasent sounding.
English, broken or otherwise, is spoken by the vast majority of people living and working in Dubai.
There is virtually no crime, the city is clean, there are few traffic jams, apartments and villas are modern and spacious.
To reiterate; Buying property in Dubai is cheap, there are no personal taxes and crime is practically non-existant. What more could you want. There are very few modern cities in the world with high-standard property this cheap.