Dubai is the largest and best-known city of the United Arab Emirates (UAE) and has grown in recent years to become a hub of commerce and international business. A thriving modern city with exceptional shopping, Dubai has become an extremely popular destination for tourists from around the world.
Dubai is filled with sleek modern architecture and has seen so many major new builds that it has undergone a complete transformation compared to just a few short years ago. As well as a thriving economy and extremely favourable tax situation the city benefits from a prime location ideal for conducting business internationally throughout the region. This has led many international businesses to set up their headquarters and offices in Dubai, keen to take advantage of all the city has to offer.
Investors, too have been increasingly turning their attention towards the city. Laws that once restricted international investment were changed some time ago and the government now actively seeks foreign investors. As a result, people from around the world have turned their attention towards the various different options of property for sale in Dubai. Low prices and high demand make for an attractive opportunity with strong potential for high returns.
Above all, business and trade thrive in Dubai, and as a result some of the best opportunities for investors come from commercial properties. Huge numbers of businesses are keen to set up offices in the city, while a thriving retail market has led many to nickname the area “Do Buy.” The tourist trade, meanwhile, brings money into restaurants and other businesses in the hospitality trade. The result is that businesses of all shapes and sizes do well in Dubai, feeding high demand for every kind of commercial property.
The thriving tourist trade in Dubai also brings investment opportunities of its own. In 2010, Dubai was the world’s seventh most-visited city, and hordes of tourists from all across the world flocking in every year. Low crime rates, excellent shopping and warm weather drive a continued rise of the tourist trade, creating excellent opportunities for investment in tourist properties.
Residential property is also a potentially excellent investment, particularly in the city’s strong buy-to-let market. Like any major city, Dubai is a hub for people from every level of society. The coming of so many local and international businesses, combined with thriving retail, tourism and hospitality trades, drives plentiful job creation and leads more and more people to move into the city for employment. The result is high demand on residential properties, creating excellent opportunities for investors. Property prices in Dubai are low. In spite of the fact this makes buying up to 40% cheaper than renting in the city, many people still continue to choose rented accommodation. This makes for excellent investment opportunities with low outlays, strong demand and high returns.