Dubai has definitely become one of the most attractive places in the world not only for its internationally famous technological and natural marvels, but also for its excellent business and work opportunities. With the current disturbances in the global economy, the Dubai property market also suffered a major blow, but not as large as the experts had estimated. The residential apartments, houses and villas are still attractive not only for their good quality and location, but also because of their lower prices that are expected to start increasing soon. Thus, now is the time to act. Here are some numbers to give you a general idea of the current price situation.
When making your financial decision concerning the buying of a Dubai property it is important to consider that all prices in the emirate are presented in the local currency – the UAE dirham. The abbreviated forex index is AED while the most popular one is Dh. The dirham is pegged to the US dollar with $1 being worth 3.67Dh. If you are primarily using another currency, it is best to check the international market indices for the day in order to have a better idea of the numbers presented below.
The most lavish and luxuries Dubai residential properties are the furnished apartments in the trendiest complexes such as the Palm Jumeirah, Dubai Marina and Burj Dubai. The price per square foot ranges from Dhs 1,100 to Dhs 1,500 that is between $300 and $408. These levels are more than reasonable considering the supreme locations and the amazing views the apartments provide. They are furnished in line with the latest trends and have internet access and cable TV provided. The shopping and recreational facilities widely available, the investment in such a Dubai property is definitely worth it. Furthermore, these are going to increase steadily over time with the gradually increasing demand.
There are also lower priced residential properties with the cost per square foot corresponding to the poorer quality and less attractive location of these. You can find offers ranging from Dhs 650 to Dhs 800 that is in the range between $177 and $218. The prices of these are not expected to increase substantially in the future primarily due to the large inventory that is expected to come to the Dubai property market by the end of 2009 and on.
At present with the development of the infrastructure in the emirate and its growing economy, the mid-range residential market segment is constantly developing. The community complexes offer all the facilities and comfort a family can require including recreational ones, but without the lavishness of the seaside and downtown projects. The location might not be perfect, but the safety and peacefulness is guaranteed. The two bed units in this type of complexes are around Dhs 1.4 million ($381,471) and the three bedroom ones are between Dhs 2.2 and 3.3 million that is between approximately $599,455 and $899,182 respectively. Overall, the investment in this type of Dubai property is also beneficial as long as you plan to live there permanently or rent it out for a long term.
If you have read this article till here, proving your genuine interest, the next step would be to learn how and where to find a Dubai property for sale in another post of mine.
Friday, October 2, 2009
Tuesday, September 29, 2009
How and Where to Find a Dubai Property For Sale
It is always a good idea to have a precise and firm starting point when doing business. The investment in a Dubai property is not different – you will be spending a major sum and you would like to make the best decision based on information and thorough research. If you are looking to buy an estate in the emirate and use it for your residence or rent it out, you should not fully rely on all the sources you find with a brief browse on the internet especially if you are a foreigner. Here are some helpful tips to aid you in finding the best way to conclude a successful deal.
The real estate agencies are the most obvious source of information on buying Dubai property. You will be able to find a large number of offers just by browsing their pages and making searches. This is a fine option as long as you are prepared to pay any required fees or percentage of the deal for their services if you are the active party. Such companies are specializing in the field and will also assist you in the preparation of the necessary documentation. Their services might be of a particular help to international buyers who are unfamiliar with the legal and other special requirements when purchasing a Dubai property. You will have to make a small research and find a reputable and reliable real estate agency. Unfortunately, with the rapid and large development of the construction sector and property market not only in Dubai, but throughout the world scams have become more widely spread than ever before. In order to protect yourself do your best to find extra information concerning the company you are planning to work with. There should be a brief presentation of the agency on their website, but you might also want to look for customer reviews and press releases as well as other information in the media.
Another way to find the Dubai property you are looking for is to visit the web pages of the project developments and complexes. There you can find all the required information concerning the types of properties on offer, their features and location. You will also get better information about the complex, which represents a small community on its own. In fact, most of the houses, villas and apartments in the emirate are part of such complexes that provide all the facilities of a small separate settlement including shops and gardens, but above all a high level of security. It requires a bit more research including a greater number of sources to find about the different communities, projects in development and the segments they fall in including the pricing. The best thing about this approach towards buying a Dubai property is that you will be able to contact directly the developers and/or marketers without having to incur any extra costs. This method of search and making a deal is safer for your investment as well. Also it is also going to be easier for you to make the arrangements about visiting and inspecting the property you have chosen.
To learn more about Dubai property pricing by reading another post of mine on this topic.
The real estate agencies are the most obvious source of information on buying Dubai property. You will be able to find a large number of offers just by browsing their pages and making searches. This is a fine option as long as you are prepared to pay any required fees or percentage of the deal for their services if you are the active party. Such companies are specializing in the field and will also assist you in the preparation of the necessary documentation. Their services might be of a particular help to international buyers who are unfamiliar with the legal and other special requirements when purchasing a Dubai property. You will have to make a small research and find a reputable and reliable real estate agency. Unfortunately, with the rapid and large development of the construction sector and property market not only in Dubai, but throughout the world scams have become more widely spread than ever before. In order to protect yourself do your best to find extra information concerning the company you are planning to work with. There should be a brief presentation of the agency on their website, but you might also want to look for customer reviews and press releases as well as other information in the media.
Another way to find the Dubai property you are looking for is to visit the web pages of the project developments and complexes. There you can find all the required information concerning the types of properties on offer, their features and location. You will also get better information about the complex, which represents a small community on its own. In fact, most of the houses, villas and apartments in the emirate are part of such complexes that provide all the facilities of a small separate settlement including shops and gardens, but above all a high level of security. It requires a bit more research including a greater number of sources to find about the different communities, projects in development and the segments they fall in including the pricing. The best thing about this approach towards buying a Dubai property is that you will be able to contact directly the developers and/or marketers without having to incur any extra costs. This method of search and making a deal is safer for your investment as well. Also it is also going to be easier for you to make the arrangements about visiting and inspecting the property you have chosen.
To learn more about Dubai property pricing by reading another post of mine on this topic.
Wednesday, September 23, 2009
The Advantages of Buying a Dubai Property
Real estate investors have begun to include Dubai in their plans ever since the economic boom in the emirate took its initial stages. If you are looking to buy a Dubai property, you are definitely on the track to a profitable business success. However, before making a final decision you should be well informed of the market conditions and prices and the construction sector development and the current as well as future major projects in order to make the best and most informed decision. Here you can find an introduction on Dubai property prices and here are the main advantages that the real estate business in the emirate has to offer.
At present the main benefit of investing in a Dubai property are the relatively low market prices, which have fallen substantially, although not dramatically from their previous high levels for the past year and the first quarter of 2009. The costs of square foot in the most attractive of developments are already showing signs of increase and some are expected to rise with around 5%. The prices in the lower class projects, on the other hand, are expected to retain their current levels. However, the demand is also growing, so now is the time to act in order not to miss the moment.
Another major advantage of owning a home in Dubai is that you can comfortably live in the hub of the Middle Eastern economic area, which is beneficial for business people and professionals alike. Despite the negative effect of the global recession, the world id now on the road to recovery and new opportunities are constantly rising in the UAE and the region. The emirate is located on the gateway to Asia on one side and to Europe and Africa on the others, which also makes a Dubai property the prefect convenient refuge for the busy international business traveler.
The emirate has also become a major tourist destination visited by thousands of people from all over the world every year. The residents can take advantage of the numerous facilities the residential complexes have to offer when buying a Dubai property. The shopping opportunities are endless and the wonders and attractions are literally around every corner. The nature is also beautiful with the soft beaches and the warm waters allowing for the ultimate relaxation. Various non-sea sports such as golf can also be practiced with one of Dubai greatest attractions being the indoor ski slopes. Different projects are also on the way to make the place even more exceptional.
All of the above mentioned advantages suggest that the investment in a Dubai property can be more than lucrative and cost-efficient. The excellent business and recreational opportunities attract a lot of people and the demand for rental properties is also very high. Leasing offices, apartments or villas is profitable, although at present the rent prices have fallen as well from their previously high levels. You can opt for a short or long term lease agreements depending on the time you want to spend in Dubai working, making business or simply enjoying all the amazing things it has to offer.
So how does one look for lucrative real estate for sale in Dubai? It's quite simple actually there is internet with lots of websites advertising Dubai property for sale and there are also real estate agencies that can help.
At present the main benefit of investing in a Dubai property are the relatively low market prices, which have fallen substantially, although not dramatically from their previous high levels for the past year and the first quarter of 2009. The costs of square foot in the most attractive of developments are already showing signs of increase and some are expected to rise with around 5%. The prices in the lower class projects, on the other hand, are expected to retain their current levels. However, the demand is also growing, so now is the time to act in order not to miss the moment.
Another major advantage of owning a home in Dubai is that you can comfortably live in the hub of the Middle Eastern economic area, which is beneficial for business people and professionals alike. Despite the negative effect of the global recession, the world id now on the road to recovery and new opportunities are constantly rising in the UAE and the region. The emirate is located on the gateway to Asia on one side and to Europe and Africa on the others, which also makes a Dubai property the prefect convenient refuge for the busy international business traveler.
The emirate has also become a major tourist destination visited by thousands of people from all over the world every year. The residents can take advantage of the numerous facilities the residential complexes have to offer when buying a Dubai property. The shopping opportunities are endless and the wonders and attractions are literally around every corner. The nature is also beautiful with the soft beaches and the warm waters allowing for the ultimate relaxation. Various non-sea sports such as golf can also be practiced with one of Dubai greatest attractions being the indoor ski slopes. Different projects are also on the way to make the place even more exceptional.
All of the above mentioned advantages suggest that the investment in a Dubai property can be more than lucrative and cost-efficient. The excellent business and recreational opportunities attract a lot of people and the demand for rental properties is also very high. Leasing offices, apartments or villas is profitable, although at present the rent prices have fallen as well from their previously high levels. You can opt for a short or long term lease agreements depending on the time you want to spend in Dubai working, making business or simply enjoying all the amazing things it has to offer.
So how does one look for lucrative real estate for sale in Dubai? It's quite simple actually there is internet with lots of websites advertising Dubai property for sale and there are also real estate agencies that can help.
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