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Why Invest In Dubai ?

Property Investment

Dubai is a lucrative destination for investment for a number of reasons. Its world-class infrastructure coupled with a safe living and a facilitated business environment makes it an ideal place to live and work. Dubai is ranked first in global population and employment growth [National Statistics Office] with an annual GDP growth in Dubai averaging 14% per year over the last 30 years [IMP], making the demand for Dubai real estate even more viable.

The fact is that Dubai has witnessed 13% growth year-on-year since 2000. That makes for a higher growth rate than both India and China, presently the two most powerful developing countries in the world.

Overseas property investment in Dubai has skyrocketed since May 2002, when it was made legal for foreign nationals to own property within the emirate. Since this time, over 100, 000 British nationals have purchased property in Dubai, and this investment property boom is helping to fuel Dubai's rapid financial and economic growth. If you're hoping to create or expand your investment property portfolio in Dubai, you'll find that the range of property on offer is vast. When you buy property in Dubai, there are no legal fees required (although advice is recommended) and you won't incur any capital gains tax or income tax on your investment property.

Since the freehold in Dubai was relaxed allowing foreigners to purchase property in Dubai there has been an unprecedented real estate explosion. Dubai is rapidly becoming the obvious choice for overseas investors, especially as in most cases purchasing a property in Dubai enables you to apply for a residency visa.

Huge growth in the residential freehold market and rental yields that are over treble what can be expected in Europe have propelled Dubai as the number one emerging city in the world today. Record breaking developments such as The Burj Dubai and The Burj Al Arab have captured the imagination of the press and public alike all around the world.

Although Dubai properties have attracted investment from an astounding number of overseas property buyers over the last few years with some making stunning short term gains, most of the major attractions are still under construction, meaning this property hot spot still offers a sound investment opportunity in the medium term and longer term.
And, according to Moneycorp, exchange rates make property in Dubai more affordable than ever before. The UAE dirham (the Dubai currency) is pegged against the US dollar and so it follows the same movements against sterling. With sterling still trading at more than $2 to the pound and property prices expected to rise 15% per year, it may never have been a better time for UK investors to invest in Dubai.

Dubai and the UAE's future are focused upon creating a financial, commercial and tourism environment second to none and foreign investment is encouraged. UK nationals buying property in Dubai can also apply for residency there and residents do not have to pay capital gains, inheritance or income tax.
These are just some of the reasons why Dubai property is still a great investment.

All this coupled with zero property and income tax and an unmatched standard of living, it is no surprise that Dubai is the labelled as The City Of The 21st Century.

The lack of available housing has caused the rents to rise on completed projects and has also led to increasing prices of new and off plan projects. As more expatriates come to Dubai the pressure will remain on the prices to keep rising, which is great for investors.


Property Investment