Life in Dubai

 

The New Opportunities in Dubai for Real Estate

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As you all know the global financial crisis influenced the cost of Dubai property. The prices have dropped a lot with some experts thinking that the situation will stabilize by the end of 2009.  So the end of this year can be considered as a good time to start purchasing properties in Dubai with an acceptable price.


How it started

With Dubai evolving into one of the hottest tourist attraction and business capitals of the world, the property market of Dubai is fast becoming an advantageous option for investment. Property in Dubai becomes in high demand throughout the world and it would seem a wise move at that time to make an investment in this sector. Rental opportunities are increasing as more and more people are migrating to this luxury business center of the Middle East. 

Being one of the fastest growing cities on the globe Dubai has become a very good option for investment in real estate. It is one of the best vacation destinations for tourists from all around the world. This is the reason for the boom in the sector of real estate of Dubai with prime locations being sought after for hotel and resort construction. If you are able to invest in a property in Dubai, you will be able to reap its prospects.

The problems
The enormous demand of prime locations for probable hotel or high priced residential property construction has led to the overpricing of property. Investors are buying up properties in Dubai fast and since for most, prices are not an issue with rich clients and celebrities owning their luxurious property in Dubai the rent and reselling value of property has shot through the roof. So, before you do invest in a real estate in Dubai, do consult experienced real estate evaluators regarding the correct cost of the asset.

When you compare the availability of flats and houses in Dubai, you will find that there is a huge supply of high-rise apartments in Dubai but a very high demand and low supply for the villas. This is because villas take up more resources in terms of square footage area. Moreover, the difference of cost between a high-rise apartment and a small villa is very less, thus, most buyers opt for the villas as their prospective real estate in Dubai than apartments.

Recommendations
The Jumeirah Beach Residence is the ideal spot if you are planning to buy your villa. This is one of the largest commercial and residential projects in the whole world. This project has an estimate cost of nearly 5.87 billion UAE Dirhams and is therefore one of the largest and most lucrative property in Dubai. Owning your own villa here can render you huge benefits in terms of rent or reselling values. The prospect of JBR is quite high with numerous hotels and resorts in its vicinity.

The income from rent from properties in Dubai is roughly 8 to 12% of the asset value, which automatically makes it a good choice for investment. The future prospects in terms of growth are certain for all kinds of Dubai property thus you can easily invest in it.

Investment in the high-rise apartments of Dubai can bring in great opportunities since it is one of the more affordable properties in Dubai and in the years to come you will be able to make a huge income both in terms of rent and reselling since the prices are bound to go up for this type of properties in Dubai. However, proper guidance from professionals is necessary. Even after that, you need to conduct your very own research about the various pricing regarding the property values that are available in Dubai to get the best deals. This will ensure that you are through about the different types of Dubai real estate and their values. To understand the prospects you must look at the 15% growth percentage of the real estate market of Dubai.

Make sure that the area in which you are buying your properties has growth potential. Property value will surely rise for a building or apartment if it is near a shopping mall, hotel or resort. The real estate sector of Dubai is a wise option now for investment. Even if you are buying the property with the help of a loan, the rent that you are going to receive for your property in Dubai will pay for it quite conveniently, and before you know it, you will be making a huge profit from your property.