Dubai is regarded as the most famous and the highly thriving emirate of the UAE. It is situated on the South – eastern coat of the Persian Gulf.
Dubai has emerged as a thriving city and a hub of business activities in the Middle East. Moreover, it is also regarded as an important transport hub for cargo as well as passengers. It is true that the early development of the city was accelerated with the help of oil revenues, however today only 5% of Dubai’s revenue comes from oil. Its main income is generated through aviation, financial services, tourism and real estate.
There are several gigantic construction projects currently underway in Dubai – a city which has become synonymous with skyscrapers and great high-rises. Dubai properties experienced a decline after the financial crisis of 2007-08. The economy of the emirate has since recovered and is growing at a steady pace.
Dubai offers a great life style. However, there are some things that must be understood before investing in Dubai property market. Most of the people who are currently living in Dubai have come to the emirate in search of a good life, and to increase their savings. They did succeed in establishing and sustaining a good life but saving money hasn’t been so easy. The reason being the steady increase in rentals over the past few years.
The ever-increasing rentals are not so suitable for expats in Dubai, however, they also offer an opportunity for earning good money by buying Dubai properties.
For all those people who plan to stay in the emirate for a long time, Dubai property rentals have increased considerably. People who are here for a short while can afford to pay high rentals since they only need to pay it for a limited duration. Long term renting in Dubai is not a feasible idea. The increase in rentals is further exacerbated by the shortage of property within the emirate. In such a situation buying Dubai property is a really sound idea since you are already paying a big chunk of your income in rentals and at the end of the day, there is nothing to show for all that money spent. It is much more sensible to pay similar amount go money in mortgage payments and have a property of your own.
The mortgage payments are a kind of investment rather than an expense. Buying Dubai property will also enable you, at some point in future, to flip your own position and become a landlord and thus, enjoy the benefits of the ever increasing rentals.
Dubai properties are available in various shapes, sizes and prices. You can have a high-profile unit from great real-estate developers. You may also invest in other, less pricey units that suit your budget. The choice is all yours
This article is published on behalf of : http://www.bhomes.com/, An real estate portal in Dubai for buying and selling properties, homes etc…