The past few years have seen many changes in the world of real estate. This market has been affected by the recession and certain regions have become more competitive than others. Off-plan property in Dubai is one such area and has been doing very well economically despite the fluctuating value of the currency over time.
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Over the past ten years,
Dubai has come into its own. Real estate developments here have been geared to cater to both international and domestic investors. The government has worked hard at creating a climate that encourages investment by foreign nationals. It is perhaps this growing interest that has led to property for sale in Dubai is one of the most financially sound investments. This growth has been fueled by the number of high-profile projects taking place across the city.
A key area that is seeing a lot of action is the Dubai Gold Market. This off-plan property is still going strong, having been largely unaffected by the recent economic problems. Off-plan properties in Dubai also include projects such as the Dubai Marina, the Dubai Festival City project, and the Dubai Sports City project which are all hugely popular with locals and foreigners.
On a slightly different topic,
off-plan properties in Dubai still enjoy a high rate of growth. This is largely because the supply exceeds the demand. The result is that there are always more properties for sale than people wanting them. This has the effect of driving prices higher. Although off-plan properties in Dubai still command a premium, they are no longer the cheapest they can be.
The main factor that has helped property for rent in Dubai stay competitive is that all major economic and social factors are operating in tandem. The government is working hard to make the city a better place to live in and is also trying to attract investment to increase the rate of development. This has seen a sharp increase in both foreign investment and local domestic investment. Another contributing factor is the political stability which has kept property prices stable even during the recent economic upheavals. All these factors have helped to make off plan properties one of the most attractive investment opportunities available in the world today.
The political atmosphere in Dubai also helps the economy.
It has a stable government that has recently re-managed the economy after the loss of half of its population. This has seen a significant injection of capital into the economy from international sources. This has helped to improve the competitiveness of the city’s off plan investment market. It is this relatively low cost of living that is responsible for the low unemployment rate and allows young people to move up to find better employment once they have finished with their education.
One of the main aspects that sets Dubai off from other countries is its easy availability of investment property. Almost anyone can buy land in Dubai and due to the lower cost of doing so, there is an enormous amount of land on the market for sale. The capital market in the country has also been highly regulated and any investor can obtain a loan if they require it. These factors all work towards pushing up the value of off-plan properties. As a result, the real estate market in Dubai continues to grow as more people take advantage of these investment opportunities.
As property values continue to rise,
the tax levels required by the government to support them will become lower. This will result in more off plan developments being able to afford the mortgage repayments required by a Dubai resident. The future looks particularly bright for investors from developed countries looking to make a return on their money in the Middle East. Dubai projects are still spread out across a wide area and offer a great deal of diversity in terms of geography and culture. It is these attributes and the ease with which off plan developments can be developed that make the Middle East such an attractive investment climate.