Property Investment in Dubai
Dubai- “PEARL OF THE GULF” - is one of the most forward thinking and open places in the entire Middle East. Dubai Investment property sector hugely encourages foreign investors and immigrants. With its lavish developments and sounds ready for anyone to indulge them in, Dubai investment property is certainly looking out for provides a vibrant cosmopolitan environment that fosters growth and appalling capital gains.
The current population of Dubai is 1.5 million (2007) and tourism figures is 5 million. There is no corporate tax; no income tax; no capital gains tax; no foreign exchange controls, trade barriers or quotas; and no restriction on capital repatriation. Consequently it is estimated that by 2012, the population will grow to 12 million and the number of tourists visiting Dubai will be in excess of 5 million. Modest predictions for capital growth are 15% per annum, but we have seen value appreciations in excess of this. Residential yields are coming in at 15% per year also, while commercial rental income is in excess of 20%. So underlying data is sound enough to produce high returns from property investment in Dubai which is safe place for investment; having a good trend of capital gains at the time.
Dubai looks set to increase in both financial clout and influence in coming years, and the forward-thinking nature of the emirate is testament to the success it has. With many specific free zones already set up for Dubai property investment Dubai Internet City and Dubai Media City, Emirates Hill, Sports City, for example, and more planned, things are certainly looking up. Many major worldwide companies have headquarters in the emirate, including Microsoft and IBM, this alone should convince anyone that the region has some solid economic ground to stand on. Dubai property investment is big business in the region, and prices are currently surprisingly low. Now is the time to invest in property in Dubai and those that can afford it really should look into it, Dubai is essentially a purpose-built playground for the rich, and home to the fastest growing city in the world.
More and more people are adding Dubai investment properties to their property portfolios and historically these purchases have provided excellent returns for many people in many countries. This interest in Dubai property investment has been partly fuelled in recent years by capital growth, high residential yield, excess in commercial rental income, and the increasing scope and affordability of international travel. Just invest and then sit back and watch the value of your investment grow!
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