Recently the real estate in UAE

Recently the real estate in UAE have seen the record growth irrespective of unbalanced and fluctuating crude oil prices in the region in fact according to critics the rise in oil prices will ensures the massive growth in property business for the whole region alone in Iran and Iraq the annual real estate business have gross over 800$ billion. The epicenter of this boom in real estate is UAE; the real estate in UAE overshadows the region with more than 50% of whole property business going in its crown jewel city Dubai. And the real estate is expected to flourish despite the facts that the oil prices in the region are destined to go down.
Up until the decade of 90’s the laws of United Arab Emirates prohibits the real estate business for foreigners but the amendments in laws made possible the business of real estate in Dubai, the boom in Dubai Property business owes to the necessary certain amendments in United Arab Emirates laws. Both professionals and small capitalists are looking towards the dubai real estate sector for their investments and the Dubai property business have experienced a major growth and the real estate Dubai is expected to flourish more in the near future.
The inaugurations of latest real estate projects in Dubai had ensures the strengthening of Dubai real estate business , the recent publishing’s of Dubai House Price Index from Colliers International have confirmed the rise in prices of real estate Dubai by more than 9% during the half of 2007. The stability in prices and affordable housing projects in Dubai real estate has increased the transactions by 60%. Investors can easily buy a two room apartment in Dubai at about 1500Dhs and 4 room apartment for 2500Dhs all these facts point out towards the fact that the real estate Dubai is on the edge of something good.
As the boom in property business in Dubai is expected to continue the commercial real estate will become scarce, people from all over the world are flooding to Dubai to invest in real estate as the introduction of 2004 free hold status have made the buying and selling of dubai properties very easy and to buy a Dubai properties all what investors have to do is to fill a reservation form and pay a sum of Down payment and the very little of Govt. tax of 1.3%, as there will be no further tax on the property the Dubai properties have the greatest return on the investment . The one other reason of the success property business in Dubai is that people from third world countries looking for immigration can easily obtain a residence permit in UAE just by buying a small real estate.

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Dubai has always been a dream land for people all around the world. It has attracting influence on people who wished to visit Dubai at least once in their lifetime. Over the years, the government and ruler of Dubai have taken such steps which have made it easy for foreign investors to invest in Dubai properties. Many new projects have been started over the years and many record projects have already been completed. Keeping the recession all over the world in mind, the growth that has been shown by the real estate sector in Dubai promises a secure and bright future of the sector over a long time to come and more and more foreign investment is due to come still making Dubai the Global city of the world for not only shopping but for living and owning property as well.