Dubai is a sophisticated business and shopping destination; this desert city has all the latest technology. Growing at a fast rate it has become a prime vacation destination for holiday-makers. Central to several continents it has an infusion of cultures that provide visitors with a unique and exciting experience. The city itself is small but makes up for its size in providing the best hotels, amenities and entertainment facilities. Dubai is also well known as a favourite location for business events because of its location and top of the range business facilities. As one of the most desired property investment destinations in the world, any overseas buyers will achieve a high return.



Some of the key points to consider if interested in property investment in Dubai are discussed below.



Dubai is one of the more up to date and open minded Arab states known to the West. As the fastest growing industry here, tourism levels are high; the variety of activities and shopping attracted more than four million to the city last year. Predictions for 2010 are over fifteen million visitors; although most hotels in the city are luxury and charge high prices they are nearly 100% full all year around and there is a demand for other types of lodgings.



Due to Dubai’s real estate agents exceptional strategic position, it is acknowledged as the key trading centre for the Middle East and many global businesses base their regional offices in the city. Dubai International Financial Centre, Internet City and Media City are just some of the new developments that provide the most up to date technology for business professionals. Dubai is an ideal place for business as it is tax free and accessible to Central Asia, the Middle East, the Eastern Mediterranean, Africa and the Asian Subcontinent. These areas are prospective business opportunities as the population and potential market account for over two billion people.



Now that the Dubai government has permitted foreigners to own property, the number of overseas investors has risen greatly. Buying property can be up to 40% cheaper than renting and so is a more desirable option for investors.



Dubai has a large skilled workforce and expatriates seeking improved employment options and tax free salaries. This has resulted in a long-term need for property.



Dubai government invested $40 billion dollars into the property market to try and supply the populations’ needs. Even with the ongoing construction projects, predictions are that it will be up to ten years before the level of supply is fulfilled.



There are many developments in progress in Dubai, but demand for rentals in the business and residential areas are still not capable of being realised. On top of an already anticipated high investment increase, buy-to-let investors are also gaining from high rental yields.



Property in Dubai prices are at an all time high as developers are unable to keep up with the levels of demand. Expatriates and others who is receiving high tax free salaries have the opportunity to buy properties at low prices in relation to properties in other countries. Foreign investors are encouraged to buy in Dubai for its low purchase and sales costs and as banks offer mortgages to overseas investors it can be cheaper and more economical to buy rather than rent. As long as the population growth continues, property investors in Dubai should be confident of future high growth prospects for their investments.



Mark Burns has extensive experience in the overseas investment property market, specializing in property in Dubai, and through the off plan world website provides extensive coverage on the world’s major property investment markets including Dubai real estate agents.