Dubai Property Market

Always striving for excellence, the government of Dubai continues to treat the private sector as a partner. There are no personal, corporate, or sales taxes, and this has led to a strong foreign investment in Dubai and the creation of many amazing Dubai real estate developments that symbolize growth and development of the Dubai property market.

Dubai is called the "Pearl of the Gulf" because of its growing economy, the modern infrastructure, and the high standard of living. All these qualities are far superior in Dubai when compared to other cities in the region.

There is a lot of instability in some areas of the Middle East but Dubai has always been known for prosperity and luxury and for being a popular tourist destination for many decades. Today, the Emirates is seeking to become a financial, technological and tourist hub in the Middle East by focusing more on trade and exporting activities.

There is a lot of growth in the Dubai property market and that growth is expected to continue. The protective property laws previously in effect in Dubai have been removed, which means people from around the world can buy vacation properties and invest in various types of Dubai properties.

You can see the growth in developments like Emirates Hills, Dubai Marina, and Palm Islands just to name a few and there are more projects planned although not quiet so many as a few years ago which can only be a good thing as the market matures.

There are new Dubai property market developments popping up throughout the desert consisting of leisure and residential properties (e.g., villas, town houses, apartments, etc.). People from Europe, Saudi Arabia, Iran, and India are quickly buying up Dubai property for sale in these new developments as fast as contractors can build and sell them.

Dubai is a city that is changing constantly as you can see by looking at the skyline with all the projects in the works. The Dubai Marina located on the Arabian Gulf marks one of the biggest changes in the city. It was only sand a few years ago but now there are several hundred residential towers and retail buildings surrounding the man-made lake.

As property laws change from 2009-2010, there are still some ownership and residency issues to be formalized for foreigners coming at a time where there have been crashes and collapses in the World economy. At the moment though, Dubai property laws are very liberal, allowing foreigners to obtain a resident visa if they are buying property here.

There is also mortgage financing available to select foreigners who enter the Dubai property market with interest rates that are comparable to those in the United States. This makes the Dubai property market a highly attractive venture for foreigners looking to own or rent property in Dubai.