How To Profit From Real Estate In Dubai

How To Profit From Real Estate In Dubai

How to​ Profit from Real Estate in​ Dubai
Since the​ Crown Prince of​ Dubai made changes to​ his country’s constitution back in​ 2002 to​ allow for​ the​ foreign freehold ownership of​ real estate in​ Dubai, the​ real estate market in​ the​ emirate has gone crazy!
Because there are no such things as​ taxes payable on income or​ property transactions in​ Dubai, and​ because the​ popularity of​ the​ emirate with hundreds of​ multinational corporations has created thousands of​ jobs in​ Dubai, everyone wants a​ piece of​ the​ property market.
But because demand is​ so intense and​ property prices have been shooting sky high, how is​ it​ still possible to​ profit from real estate in​ Dubai?
Well, you’ve got to​ know the​ market to​ know which developments are in​ demand from which people, and​ which people are willing and​ able to​ pay top dollar for​ rental and​ resale property in​ Dubai – then you just have to​ target your property purchase to​ meet the​ requirements of​ your market!
First things first it’s important to​ know that those buying apartments off-plan in​ Dubai right now will have to​ wait for​ up to​ three years to​ see their properties completed .​
This means that those who have jobs in​ Dubai and​ want to​ relocate to​ the​ emirate right now will have to​ find completed accommodation to​ rent out .​

The demand for​ completed apartments close to​ Dubai’s main employment sectors such as​ Dubai Media City is​ so intense that annual rental rate increases have been capped by the​ government who were afraid the​ increasing prices being demanded would create an​ unaffordable market place.
Anyone with the​ funds and​ the​ contacts should buy completed apartments in​ Dubai to​ let out for​ the​ short to​ medium term .​
When the​ majority of​ projects currently under construction come to​ completion within the​ next three years however, there will be a​ surfeit of​ apartment accommodation in​ Dubai which will restrict property price and​ rental price increases naturally.
Those looking for​ a​ longer term real estate investment opportunity in​ Dubai and​ wishing to​ get ahead of​ the​ curve should be looking at​ family villa accommodation .​
Almost as​ in​ demand currently as​ completed apartments are family villas – but far fewer of​ these are being constructed and​ far more of​ these will likely be required over the​ longer term .​
Furthermore with the​ creation of​ Dubailand well underway, villas to​ rent close to​ the​ main attractions of​ Dubailand for​ visitors to​ the​ theme park will quite possibly become as​ in​ demand as​ Florida villas.
All in​ all the​ popularity of​ Dubai’s real estate sector is​ as​ intense as​ ever, but an​ investor nowadays has to​ be a​ little more astute than before if​ he is​ to​ continue profiting for​ the​ long term.

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