Due to the wise planning by the Dubai leadership, the buying process of Dubai properties has been incredibly lucrative. With development areas for the highest residential tower and largest mall in the world, Dubai is experiencing a booming real estate market. Owing to strong fundamental demographics, Dubai is enjoying a vibrant real estate market boom. In Dubai, real estate prices have risen due to high demand and supply shortages.
The Dubai government has managed this economic boom with a push-pull management. The Crown Prince relaxed foreign ownership regulations in the year 2002, thereby allowing for 100% foreign control of "freehold" property which could be sold, rented or leased. As a result of this move international investment has flowed into Dubai. Other offers like no capital gains tax in the UAE and no stamp duty on UAE real estate has all induced more real estate property investment in Dubai.
The Dubai Strategic Plan for 2015 is an ambitious plan that targets high GDP growth rates with an increasingly skilled workforce, through extensive investment in financial, construction and tourist sectors. While other regions in the world are experiencing credit crunches due to mismanagement, Dubai has a credit surplus and is an emerging international financial centre.
The Dubai accommodation has options available for commercial properties, short-term rental properties and office spaces. It also has residential properties that include apartments, luxury villas and mixed-use gated communities. These are also waterfront properties, beach resorts and penthouses. The opportunity is awesome as many real estate developments have extensive waiting list and the Dubai rental property offers high yields of around 12 - 15% per annum.
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