United Arab Emirates Property

Apartments for sale in the UAE
Dubai investments
The fastest growing economy

The United Arab Emirates is a unique property market, like none other in the world, with an exceptional range of properties and facilities. Dubai has the highest population and is the second largest emirate of the United Arab Emirates after Abu Dhabi.

Most the Dubai's revenues are from the Jebel Ali Free Zone (JAFZ) and, increasingly, from tourism and investors in international property. Consequently, Dubai is unique amongst members of the United Arab Emirates in that revenues from oil amount to only 6% of its gross domestic product.

Dubai plans to become the largest tourist and financial centre in the world. Today, not only is Dubai the leading commercial centre in the region, but it is already attracting tourists and property owners seeking a luxurious and prosperous lifestyle.

This has been made possible by the commitment given by the Crown Prince of Dubai in May 2002 to allow foreign nationals to own a property within the emirate. Since that time, it is estimated that over 100,000 Britons have bought second homes in Dubai, and the economy of the emirate is growing year upon year.

In 2005, Dubai’s economy grew by about 16% and is projected to reach over AED130 billion according to a statement from the Dubai Department of Economic Development.

Some of the factors driving Dubai's growth are:

• The population is set to rise from 1.2 million to 4 million, whilst incoming traffic is set to rise from 5 million to 15 million.
• All master planning is Government controlled so the demand to supply ratio is managed, maintaining strong growth and returns.
• No capital gains or income tax.
• Vast range of properties on offer.
• High build-quality.
• No legal fees required (although advice is recommended).
• Simple buying process, with no national registration required.
• Flexible payment plans allow payments to be deferred following the initial reservation deposit.
• The average price per square metre of an apartment in Dubai Marina is up to 50% less than a similar development in the UK.
• Recent capital growth of between 15% to 25% annually.
• High rental yields.
• Property ownership grants the right to apply for residency visas.

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