Monday, December 1, 2008

Process of Property Buying In Dubai

Due to the intelligent planning by the Dubai management, the property business process in Dubai has been extremely lucrative. With development areas for the top residential tower and largest mall in the world, Dubai is experiencing a thriving real estate market. due to strong fundamental Dubai is enjoying a lively real estate market. In Dubai, real estate prices have risen due to high demand and supply shortages.

The Crown Prince relaxed foreign ownership regulations in the year 2002, thereby allowing for hundred percent foreign control of "freehold" property which could be sold, rented or leased. As a result of this move international investment has poured into Dubai. Other offers like no capital gains tax in the UAE and no stamp duty on Dubai real estate has all induced more real estate properties in Dubai.

The Dubai Strategic Plan for 2015 is a motivated plan that targets high GDP growth rates with an increasingly skilled workforce, through extensive investment in financial, construction and tourist sectors. While other regions in the world are experiencing credit crunches due to mismanagement, Dubai has a credit surplus and is an emerging international financial centre.
The UAE property market has choices available for commercial properties, short-term rental properties and office spaces in Dubai. It also has residential properties including apartments, luxury villas and mixed-use gated communities. These are also waterfront properties, beach resorts and penthouses.

15 comments:

Bayut said...

Well, this is a nice piece of information on how to buy property in Dubai and in my opinion, the most important thing is to find right person for the right job means a right rel estate agent as it is very critical in Dubai and I have a place http://www.bayut.com/agents.html for finding the best real estate agents in Dubai.

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We feel some people are taking advantage of the current situation of the property market, not everyone is feeling the pinch. Dubai has a vibe about it so people are always wanting to come here.

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