Buying Property in Dubai

The property market of Dubai is very different from other markets and the scenario has completely changed since the millennium. In 2002, the law in Dubai was changed and now foreigners can buy property in Dubai and after this law amendment it has become the hottest market in the world. Land reclamation and many other projects have grabbed the attention of media all over world. Moreover, many Britons are buying property in Dubai, as the ambitious and big development schemes attract them and many other property buyers are also attracted by the fine weather.

Property market of Dubai

The property market in Dubai is continuously going from strength to strength and the annual price for properties has risen up to 7 to 10 % for villas and apartments. The off-plan sales in Dubai are not so strong because the foreigners are mostly interested in buying a physically completed property. The rental market in Dubai is also getting stronger, rising by as much as 20% on an annual basis.

The Dubai government is trying to attract overseas investment and there are many changes made to protect foreign ownership.

• By: Administrator | On: 23/11/2009 | In: Dubai Property Investment | Comments: 0