Buying property in Dubai becomes more appealing by the day as more announcements are made about developments in the region 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. Everything you need to know about finding a rental property in Dubai and negotiating terms with a landlord or employer The thought of tax-free living in a paradise destination in the sun is just too good an opportunity to pass up for many! And if you’ve been seduced by the thought of living the high life in Dubai – we can’t blame you! If you’re on your way to the emirate and are in the process of sorting out your accommodation options, this article makes for essential reading. If you’re arranging terms and conditions of your employment, a large part of your negotiation should centre upon your accommodation options, because renting property in Dubai is nothing if not expensive. Many employers who are headhunting and relocating staff to the region are willing to accommodate you for a given period, and others offer a fixed sum towards rental accommodation. There follows all the essential advice you could possibly need about how to find and rent property in Dubai – from getting these negotiations with your employer right, to finding the best bargains available and negotiating with your landlord. Financial Assistance Towards Your Property in Dubai If you’re about to relocate to Dubai and you are sorting out your contract of employment, be sure to discuss the level of financial assistance that you will be given towards your property in Dubai. You can go on forums and also access rental and estate agency sites on the internet to get a good grasp of a) average rental rates at the current time and b) what others are paid by their employer.
This will give you a good idea of what’s fair and what’s not! If at all possible, try and negotiate that your employer accommodates you in company housing or a hotel for at least a month after you arrive. Ideally you’d be better off having accommodation for a minimum of 2 months to allow you to find your feet and locate a suitable home to rent…but a month is okay if that’s all they’ll offer. If your company offers you accommodation full time in company housing this can seem like an attractive benefit. However, you may well find that the housing they offer you isn’t 100% suited to yours and your family’s needs. Far better is to have accommodation for a couple of months and then to have money towards your rent in a property in Dubai of your choice. Finding Rental Property in Dubai You can simply go to a range of estate agency websites online when looking for rental property in Dubai – however, this is quite possibly not the best way to find the best property. Many of the most in demand properties are not on the market long enough to be listed with an agency, therefore you need to get out the word that you’re in the market for a property immediately! Speak to colleagues and neighbours the moment you arrive in Dubai, speak to your employer and also look in the classifieds in the newspaper.
Look on notice boards at work, in the supermarket or at the gym for example, and be as proactive as possible. Firstly you want to find out which is going to be the best region for you – a) in terms of the accessibility of the given residential area with relation to your workplace bearing in mind commute times and traffic build up and b) for your budgetary and personal requirements. Again, get recommendations from colleagues and get on forums and speak to people who have been living in Dubai for some time. Local knowledge is priceless, it really is. You can also be proactive by getting in your car and getting out and about and driving round Dubai. Look at areas that appeal to you, look out for ‘To Let’ signs in apartment windows or outside villas.