I know lots of people think the property market in Dubai has been hyped and the time for investing in property there is past but I'd have to say that I disagree.
So - d'you buy in Dubai?
So much going on
Dubai is amongst the busiest places on this planet in terms of property development, infrastructure building and inward investment. Not to mention all the work going on with Dubailand. It's going to be one heck of place when it's finished - not to say it isn't already.
And call me naive if you will but I tend to feel even more comfortable when the impetus behind the growth, development and tourism is promoted by rich, powerful and driven governments or, as in this case and Morocco too, by a monarchy that needs it to succeed. Somehow, when property inflation is simply a function of sentiment (Bulgaria, perhaps?) it feels much more vulnerable than when it is being fuelled by a real economic need being addressed by the powers that be.
A lot further to go
If you haven't watched the Megastructures programme on National Geographic channel where they chart the building of all the islands that are to constitute Dubai's new reclamation area, The World, then I commend it to you. Anyone who sees this must recognise the sheer scale of the commitment being put behind the development of Dubai. And now they are planning the even more elaborate and challenging Universe - "Donald Trump on acid" indeed!
The continued advance of the city and its attendant businesses, attractions and facilities hardly looks like abating any time soon. It must be the only desert with skiing facilities! Tax breaks, new airports, Arabia's largest free-trade zone and lots more all go to make this emirate set for growth for some considerable time. A brief scan of the companies already based there confirms that Dubai is no fleeting fancy - Cisco, Microsoft, HP, Compaq, and many others. And for those seeking to set up business few places are as liberal and welcoming as Dubai.
Sports celebrities, pop and film stars, emigrees from all around the world - all have recognnised the benefits of setting up home here. And forecasts are for the population of full-time residents to trble by 2020 to 4m. For a look at some of the property available here have a look:
Properties in Dubai
And if you can't see what you're after there then send us a brief email or give us a call and we'll have a look for you.
Or have a look here for more information on living in Dubai, getting there, the taxes and a lot more.