Dubai property outlook

Dubai property outlook
Middle East property market - Dubai
The property market in Dubai is set to grow much faster over the next decade, compared to the past 10 years. Evolving regional stability along with planned new development initiatives will continue to attract regional and international investors to Dubai.

The decision to allow non-UAE citizens to purchase freehold property has provided a major boost to the property development sector, kick starting a diverse range of projects that have encouraged foreign investment. The UAE's political and economic stability, combined with a tax-free environment and the high rate of return on investment will continually aid the property market.

Driven by vision, the city is going to attract a lot of quality and knowledge workers to the Emirate which will drive future growth in the property market. Currently the supply seems to be less sufficient with the projected demand which is expected to cause high appreciation in the years to come. There will be continuous demand for real estate property at the mid to high segment of the market, and parallels phased growth schedules charted out by major real estate developers.

Dubai is a relatively small city and most of the land in Dubai is either a desert or is now allocated to various development projects. Successfully on the verge of completing numerous projects in the next 3 years, Dubai is going to become the ultimate tourism destination in the world.

Once these residential projects are completed, investors will realize the magnificent quality of the real estate products and a strong global infrastructure in place.

Dubai's planned marketing activity continues to attract businesses, investors and tourists which should continue to fuel the value of real estate properties. The network of current buyers will generate a snowball effect of new property buyers. Current investors already realizing the potential returns of their investment will lure their contacts and so on, and such growth will definitely put pressure on property prices in the market.

Government incentives, modern infrastructure, new flexible legislations and rapid increase in population, are turning the local real estate sector very attractive for investors. There is no specific federal land law in the UAE, however, each Emirate has established its own specific land ownership policies through local orders and decrees and as per its own economic and other relevant circumstances.

Dubai has been witnessing major developments in the property sector during the last two years, and is all set to enact its real estate law. Foreign and expatriate investors all over the world have been offered some unlimited facilities with government guarantees, compensations, health care and education for their children; for they represent an asset to the country they operate and live in.