Saturday, 8 December 2007

Buying Property in Dubai More Appealing

The allure of the sun-kissed and sparkling shores of glamorous Dubai is impossible to deny. With this particular UAE country quickly becoming the world’s new playground in the desert, investors from all over the world are flocking in to buy property.

If you’re considering this relatively expensive market you are not alone, it does seem that despite the already high property prices that investments in real estate in Dubai are more than likely to pay off over the medium term. Dubai’s rising star is still continuing to rise and rise and buying property in Dubai is becoming more appealing!

With massive infrastructure projects ongoing and new developments being announced at what seems like the speed of light, it really does seem as if there is no slow down in sight for Dubai’s appeal.

Even with higher buy-in prices than those found in other developing hotspots in the region, Dubai remains a strong investment location especially now that you can get mortgages in Dubai easily from Barclays Bank. Buyers are finding that resale and buy-to-let potential remains strong in the emirate. Many buyers however, are actually looking to relocate to Dubai as it is one of the most popular expatriate locations in the world, with immigrants coming from points all over the globe creating massive demand for property in Dubai

Between the USD 11 billion Arabian Canal announcement, word of more high-rise towers and other pot-sweetening projects, the Dubai investment landscape is attracting major international attention once again. And, just when it may have seemed like nothing else could top recent announcements that are meant to bolster the tourism and investment industries, another one has been making the headlines!

Sports lovers will soon find themselves able to enjoy world-class cricket in the midst of the hot Dubai climate.

The International Cricket Council (ICC) has its eye on the presently under construction Dubai Cricket Stadium for some major action. The stadium, which should be finished next year, is being looked at for “A” team tournaments, as a pre-season training centre and even for women’s international tournaments. This will add another reason on to the already long list of pros for making Dubai a holiday or relocation destination.

The appeal of Dubai, according to an ICC spokesman, goes beyond its rapidly growing populace and infrastructure projects. The fact of the matter is Dubai serves as an “ideal venue” for international tournaments because of its centralised location. Already it is expected that Mumbai might have its pre-season training in the stadium during monsoon season in India. English county teams have also signed on to train in the spring. This means many visitors and expatriates will be able to take in their favourite cricketing action whilst soaking up the sun.

With so much international focus on Dubai right now, this property market remains strong. As the country continues to announce major developments and infrastructure improvements, interest is rising even higher. With an anticipated population doubling by the year 2010, Dubai may very well be one of the hottest destinations in the world for expatriates and holidaymakers alike and this just bodes so exceptionally well for property investors.