Luxury property is cheap
Property in Dubai is cheap at present compared to other modern cities. If you look at the price per square meter in London Docklands it is currently around £2500, Dubai is currently around £500 per square meter. There are very few comparable cities around the world where luxury comes so cheap.
In the international real estate arena, buying property in Dubai has become is the latest and hottest trend. Dubai has become synonymous with ambitious mega developments and projects that have claimed worldwide recognition and are phenomenal architectural feats. The May 2002 law facilitating the purchasing of Dubai property by foreigners catapulted the Dubai real estate industry into an enormous boom that is still going strong today.
Buying property in Dubai is not restricted to the elite upper class only. Many new and existing residents of the city have found it more worth their while to purchase their residential quarters instead of paying exorbitant rents to landlords. As a result, several real estate agencies have sprung up across the Emirate, in addition to some developers selling their property directly.
With approximately $90 billion invested in property developments either completed or in the development stages, buying property in Dubai has never been hotter. Dubai provides the ideal environment to buy property. Buyers are spoiled for choice offering various types of property suited to all lifestyle requirements. From towering city apartments to luxurious beach front villas and exclusive self-sustaining communities, Dubai is the new international property buying destination and has even attracted several star celebrities, including the likes of David and Victoria Beckham, Michael Jackson and Rod Stewart.
While the market for mortgages is still developing, many developers offer exclusive payment plans when buying property in Dubai. The city is thriving and the real estate market is booming. Purchasing properties in Dubai is an almost guaranteed return on your investment, whether you wish to rent or sell your property. If it is a holiday home for yourself and your family – there is no better place in the world that will offer you the kind of luxury environment than this City of Gold.