Dubai Commercial Market Update
67Dubai has one of the fastest growing economies in the world and has open trade policies. Despite the belief that the majority of the money in Dubai comes from oil; this is not entirely correct. Most of Dubai’s GDP is yielded from non-oil sources. One reason for the continued flourishing in Dubai’s property market is thanks to the support from Dubai’s government. The lack of tax on earnings or capital gains also attracts wealthy expatriates to the city - villas and apartments are being sold at some very good prices.
To avail the advantages of Dubai real estate, the government has opened its doors to foreign investors so they can own freehold premises in the city. These steps have already encouraged many foreign purchasers to invest in the market and are enjoying robust returns. This has made investing in real estate in Dubai an investor’s dream. One is required to pay only the registration fees and no legal duty or stamp duty.
If one requires financing when purchasing a property in Dubai, the recent opening up of the mortgage market in Dubai has made it far easier. Previously, investors had to look for re-mortgaging, private loans and equity releases if they were not cash buyers. Most banks now provide mortgages to expatriates, creating a good opening in the market. Dubai is a nice city with little crime, and this Muslim state actively practices religious tolerance. Ownership of Dubai properties can even be fruitful in the long run as the market is getting brighter with time. The future holds great good promises for real estate owners.
Due to the massive benefits Dubai offers to expatriates it is also an ideal place for businessman because of the following reasons;
· Dubai is the current international hub of the Middle East.
· Dubai is becoming an important player on the world stage and is ideal for trading with other countries.
· The quality of property is consistently high.
So the benefits of buying houses for sale in Dubai can be summed up by the following points:
1. Growing
economy and politically stable
2. No income tax and property tax
3. Clean crime-free city
4. Advanced technology and communications system
5. Exemplary healthcare, education and leisure activities
6. Five star hotels, restaurants and beaches
7. State of the art sports arenas (tennis, golf, water sports, sand skiing, horse
riding and the first indoor ski mountain)
8. Cosmopolitan work environment with over 185 nationalities
9. Prices are inexpensive by comparison to other similar markets around the
world
With upcoming features like the World cluster of islands, the largest shopping mall, the highest water fountain, the tallest building and various other attractions it is inevitable that property prices increase in the future. Regardless, there are enough other reasons for you invest in property in Dubai.
For - Hamptons International
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Interesting hub. Weird because I am waiting for a student who I'm tutoring in Economics.
I saw a special on Dubai, jaw dropping. It's the new mecca. Great Hub!
My husband visited Dubai and was very impressed. Maybe we will pick up and move there when the kids head off to college for the final time, next fall. It seems like a hilariously brilliant thing to do- move into the heart of the Muslim world to escape terrorists and discover tolerance.
Great article. I would love to visit. All the pictures I've seen are gorgeous.
Dubai is a place I'm looking forward to visiting in the next year or so. Thanks for providing more info. about it. I'm guessing The World Development Project should have been completed by now. Thanks, Lovely Hub.
Hey Mark, I miss you! Anyway I watched, PBS I think i,t was, a couple of years ago and was wondering about their updates. Thanks for the updates!
Hey LG - I miss you too. Where have you been?
I took a 6 week break from Hubpages. The antics of some hubbers just got me to take a break. Name calling is not one of my forte's. I am back but I will NOT go into the religious forums for a loooooong time. I am still with the religous though from my latest hub. You are welcome to visit and leave comments anytime you want. On that one I do have it set to approval before it is shown. I have learned something while being here. I could amost write a book as to what I have beenup to in those 6 weeks. Not hp content though.
I've had the luxury of visiting Dubai and it is everything this hub speaks of. It's awesome!
I have watched videos About Dubai. It's amazing. We should (united States)no income tax and property tax as well.
Dubai is broke dude!
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Hmrjmr1 Level 3 Commenter 2 years ago
I spent a fair bit of time in Dubai in the last five years coming and going from Iraq. It is all you've said in spades my friend. A great place to visit and if you don't mind the heat a great place to live. Speaking of Tolerance, They are the only Arab nation I know of that actively supports and promotes Christmas, To include public displays or lights and decorated Christmas trees. And in the world scheme of things it's not too expensive either. Great Hub!