Property in Dubai, Dubai Real Estate

The cities economy is riding high, the city, upon realising it would not be able to suport itself on oil wealth forever looked to tourism to provide a prosperous future. Huge hotels have been built, all kinds of tourists have been catered for, especially the very wealthy. Property in Dubai has benefitted enourmously from this.

Despite predictions that there has been an oversupply of property on the market in Dubai, the opposite has been true, there is higher demand for property in Dubai than the amount of property that is being built. As the city prospers, a greater number of people move to the city in search of work, driving the demand for housing. The fact that there is strong demand for one bedroom apartments has a lot to do with the fact that expatriate workers have been moving to Dubai in ever increasing numbers as more foreign businesses move to the city due to tax incentives and quality of life.

Dubai has year round sunshine, an attraction that cannot be underestimated. Quality of life in the city is at a high level and property in Dubai is once again benefitting from this.

The government of Dubai is very much in favour of using the property market to attract wealth and a booming economy in Dubai, the government has invested heavily in the city and the infrastructure, attracting wealthy investors and always looking to be one step ahead of the competition. The world's only 7 star hotel in the city is a testament to the government's desire to attract the super rich and create a haven in the middle of the desert.

Rental yields in Dubai are very attractive, in terms of purchasing a property for investment and renting, an investor will be able to look to both capital appreciation and rental income when making an investment in property in Dubai, an attraction that is at the moment not always true in popular overseas propery investment destinations.