Real Estate News

The Dubai real estate business has set new standards for property business and construction throughout the world. Dubai has seen an unmatched hike in the real estate sector, before 2002 only the citizens of UAE were allowed to purchase property in Dubai, but since the UAE government passed the property law in 2002, that everyone is allowed to buy or invest in Dubai real estate sector. Growth rate in Dubai real estate is believed to increase steadily during 2011, and is expected to perform even better in the coming year. Dubai real estate has a number of stunning and famous projects either built or close to completion, people who are interested in Dubai real estate must have heard of projects like Palm Island, The World, Burj Al Arab, Down Town Dubai and many more.

Dubai real estate market has shown the extraordinary attraction to drive anyone who has the craze of fabulous and luxurious Dubai Accommodations. If you know that you want an apartment in Dubai, location is another important aspect to consider, which greatly depends on the nature of your visit to Dubai, like if your are on a business trip you need to look for an apartment that is close to the commercial area, and if you are on vacation you should consider selecting apartment in Dubai close to the beach, bar and nightclubs, while if your are on for shopping than it will be wise to opt for apartments that are close to the markets and you can walk to desired place easily saving you the cost of transportation.

If considered according to quality there are a number of options available for your Dubai accommodations, starting from hotels, served apartments, to homes and luxury villas. A furnished self catering Dubai accommodation on rent may turn out to be a low cost option then staying in a luxury hotel, there are many self catering flats, homes, and villas available on rent for short term with different capacities to accommodate form one person to fifteen persons depending on the make and design of the property, also it will be a good idea to inspect the property before signing the agreement. If you are planning to book a villa, flat or an apartment in Dubai it is recommended to carefully choose a reliable agent to deal with, most preferred will certainly be those who are present in Dubai themselves, to guide through to any inconvenience, if it may occur.

If you are unable to purchase property your best is to rent a flat, villa, or an apartment in Dubai. This is extremely attractive proposition if you are planning a short tour, or a holidays in Dubai. Currently this is the preferred mode of living in Dubai for immigrants who migrate alone for jobs/work. An internet search can help you to find rental Dubai accommodations, especially studio apartments. After gathering all the required info about the Dubai apartments, you can mix and match price and costs and chose the best apartment for yourself.

Dubai is well-known for the development in the sector of real estate in UAE. The ground-breaking technologies and concepts applied for the development of the city is remarkable. Therefore Investment in Dubai real estate is believed to be safer and most profitable way to double your money even at this moment of economic  problems hovering all over the world.

Reason behind the expansion in Dubai property sector is the changes in laws and provision of flexibility for foreign investors provided by the government, which permits foreigners to buy, rent and sell properties in Dubai. Many real estate development organizations are offering resident visa for those who buy real estate from them. Several multinational organizations are currently establishing their offices in Dubai, which made Dubai a first-rate work market for professionals and skilled workers around the globe. More professionals are fascinated towards Dubai for the reason that the city provides attractive high salary. This phenomenon has created enormous demand for accommodation and office spaces. Especially Dubai apartments are very famous among the young and lively professionals and villas in Dubai are the hot choice of relatively affluent class.  Laws in Dubai related to property are very understandable and formalities are minimum as compared to other countries.

With the continuous and rapid surge in Dubai’s population, a substantial proportion of which consists of expats and temporary residents living in Dubai for employment reasons, the question of buying or renting a residential property in Dubai is the talk of the day. Both the potential tenants and home buyers may be troubled by the question. But still reports on Dubai real estate say that the changing picture of global financial markets shouldn’t deter the locals from buying Dubai property if their plan is to stay there over the couple of years. As for those who plan to stay in Dubai for more than five years, buying a property can prove to be the wisest decision they ever made given the prices of Dubai property climbing higher and higher with each passing year.
Dubai has also emerged as shopper’s ecstasy due to its open port policy with little import duties and superb logistic facilities.

Dubai has a world class facility for conferences and exhibitions; it hosts many international conferences and exhibitions. The Real estate sector in Dubai is experiencing immense activity in the form of investments from public and private organizations which include worlds, largest amusement park, tallest building and largest man made islands etc. Dubai real estate sector is expanding day-by-day to the ground breaking levels by introducing more modern and ground breaking projects.

Property investment in UAE, especially Dubai, is sure to yield heavy returns for the investors. Seeing the current property trend, in which limited supplies fail to fully meet the burgeoning demand, it’s easy to deduce that the time is ripe for the foreigners to invest in the UAE. If you choose to buy a freehold property in Dubai, you’ll enjoy many advantages as a foreign investor. You’ll have the power to sell or rent your property as per your desire. Due to a huge influx of expatriate and temporary residents in Dubai, the demand for short-term rentals is continually shooting higher offering yields around ten percent. The good news for the lenders is that no taxes on income, including that acquired from renting property, are levied in Dubai.

The implications on the economic climate are few and of insignificant proportions, but the least that can be said is that they are far from negative. In all likelihood, Dubai will recover a lot more quickly from the recession than any other cosmopolitan city. Why? Quite simply, because Dubai has a smaller permanent population. Fewer people remain in Dubai when things go sour financially. Their residence in Dubai is very dependent on full-time employment. The high turnover means things can change very quickly. Dubai is still extremely investable. Market prices dropped to possibly the lowest it had ever been in August 2008 and now, a year and a half later, international investors are starting to return so as to profit from the rebound that is to be expected given the recent positive trends. This trend of investors will undoubtedly give the property market rebound, a much required shove in the right direction. Although at this point Abu Dhabi can offer more financial stability, Dubai still has more to offer expats and tourists.

The Burj Khalifa just adds another major attraction to a long list of incredible record breaking attractions. Just outside of the Burj Khalifa stands the world’s largest water fountain, costing Dhs800million to build and measuring 275m across. Another spectacular sight, seen for the first time on the 4th of January shooting water 150m up into the air, at the opening of the Burj. Also, by being extremely hospitable to its expats, Dubai promises to be a potential home. A place where one can earn their money and enjoy it. A city of luxury which makes a sedentary lifestyle the norm. Lets not bother with the change of name, enough has been said about it and there are fundamentally 2 conflicting arguments as to why it was changed which are ultimately unimportant to the market.

The one truism about it is that Abu Dhabi and Dubai, in times of hardship have strengthened their bonds and when support was needed, it was given. Politics aside, it’s still the Burj. It’s still the tallest building in the world and will be for a long time. That alone makes it a highly investable slice of property. The hope was that the grand opening would invite some positive press. Who would be surprised that in a time when most are suffering financially, this opening would be considered a show of arrogance? Arrogant or not, Dubai still has something great to boast about.

Dubai Property especially Jumairah Lake Tower is highly popular for luxurious and extravagant resorts hotels. Even if you need apartments on rent in Dubai, you can have the extravaganza of water sports like windsurfing, water-skiing and scuba diving if you are planning to get it at Jumeirah Lake Tower.

Jumeirah Lake Tower is the place full of artificial lakes and waterways. Jumeirah Lake Tower is a coastal residential place and good investment area in Dubai property industry. The bank of this artificial lake at Jumeirah Lake Tower includes unique housing and commercial towers. There are water front homes and lavish apartments for rent in Dubai which provide dramatic, panoramic views. Seawater is pumped into the waterways through a unique underground pipe system. In the middle of Jumeirah Lake Towers, there lie Dubai Metals and Commodities Center including a 55-storey central hotel tower.

Jumeirah Lake Tower is the cream area for Dubai property investment and it is near to first rate golf courses and entertainment locations like Hard Rock Cafe, and international hotels and restaurants like Jumeirah Beach, Dubai Marina and The Palm islands.

Shopping, sports and dining are the extreme facilities that you can find at the modern Jumeirah Lake. However, there are other community features that you cannot find in any other area of Dubai property. Some of them are walking tracks, gardens, waterfalls, islands, children’s activities, broad roads and other extreme level of access-controlled security systems. Generally, Jumeirah Lake Towers has prime position among other Dubai property places because it is excellent for shopping, vacations and enjoying beach life.

Although Jumeirah Lake Towers is a big one among other Dubai properties, people who need apartments for rent in Dubai also go for other areas. Some of them are given below.

2 Top regions to buy Dubai property and get apartments on rent in Dubai

1.The Springs

The Springs is situated in the Emirates Living district of Dubai. It can tender you with ‘villa-living’ standard of living with calm and well integrated community of villas and amenities. Besides this the main appealing attraction is the least level of interruption from neighboring construction activities.

There is the extreme demand for apartments rent Dubai and The Spring takes the 7% of the total yields into account of the cost of maintenance.

2.Dubai Marina

Dubai Marina the archetype of the incredible development of Dubai property. Since early days of construction boom of Dubai property market, it is getting consistent popularity. At present the advanced infrastructure of Dubai Marina is continuously attracting investors for the elegant water-front life, delightful shopping centers, pubs, cafes, restaurants and lavish hotels.

Dubai Marina is approaching the finishing point and again experience less than nearby areas from annoyance of construction activities. The inclusion of Red Line Dubai Metro in September 2009 also tendered the traveling facilities in this area.

Conclusion

Jumeirah Lake Towers is considered as ugly brother of Dubai Marina. With equal successful characteristics, Jumeirah Lake Towers has achieved a progressive position of infrastructure.

Although Jumeirah Lake Tower is less expensive than Dubai Marina and other Dubai property areas, yet it can tender you with comparable position and facilities if you need to get a lavish place for apartment for rent in Dubai. Jumeirah Lake Towers is well associated with the launch of Dubai Metro services and soon it will be having right of entry to more than two different stations to facilitate traveling facilities.

Rents of the Dubai real estate are constantly increasing due to increased inflation rate every where in the world. As rents are going up, purchasing power of the people are decreasing and they are choosing to live in shared houses, flats or apartments in order to keep their living costs down. Same is the case in Dubai. Dubai is a city which strongly requires its residents to strictly abide by all the rules and regulations enforced by its law. In Dubai, property can be rented in different styles and sizes depending on their prices but rental shared house is a most common style preferred by its residents.

Houses are shared on different terms and bases in Dubai. Sometimes one housemate is responsible to collect the rent, arrange for repairs and control the house or sometimes both are equally responsible according to the different tasks and works distributed among them. So, the house mates living in Dubai should know their rights and responsibilities as they determine their legal status in the house. For that, house mates should take proper care and due diligence while signing any shared house agreement. Some of the valuable points which the house mates of the Dubai real estate must consider before signing any shared house agreement are given discussed below.

First of all, housemates must inspect the house they want to share. They should note down the condition of the furniture and fixtures, its cleanliness, and overall environment. If you wish to change anything in the house ask the landlord if he can. Secondly, housemates who are ready to share a house must insist on a written tenancy contract. It is in official language in Dubai. Dubai is a state in which a standard form of Dubai property contract is used by the law so housemates must read it carefully before signing so that they may come to know their rights and obligations. Renting a house is basically on a commitment of half year or yearly basis with or without an option to renew. So, mention that period in the contract carefully whether you intend to renew that agreement or not.

Thirdly, you should read out the monthly agreed upon rent as well as the date on which it will be due. Study well the sharing ratio of rent between the house mates and penalties for late payments. Annual rental increase schedules should de studied carefully.

Fourthly, an owner is responsible for paying all the property taxes and other utility costs. So, before signing the contract make sure if you, as a house mate are responsible for paying these expenses or owner will be paying it. If housemates are responsible which one of you will be responsible to collect it and deposit it with the landlord? Make sure if you are responsible for the arrangement of the repairs or not. Whether land lord would be paying for it or it will be divided equally among the house mates.

Fifthly, if you are thinking of vacating a property before the retirement of rental agreement, make sure whether it’s in your obligation to pay the rentals up to the end of the retirement period or your other house mate will be responsible to pay it. Sixthly, house mates should study properly what would be their penalty if they do any harm to the property of house, renovate it without permission or violate any clause of the contract and the ratio of sharing this penalty among them.

So, in short you should study the entire contract carefully and should concentrate on each and every clause to know if it goes in your favor or not because proper concentration always results in making the right decision.

Dubai offers out class hospitality options to its visitors, tourists, and immigrants and because it is the favorite tourist destination of many around the world as it receives tons of tourists and visitors every month from all parts of the world and to cater is increasing rush of tourists and visitors Dubai has some of the most fabulous hotels in the world, infect it has the honor of having the only seven star hotel in the world. Apart from hotels Dubai hotel apartments, and flats, apartments, and villas on rent also offer a variety of options to the tourists, visitors, and immigrants coming to Dubai for various reasons. With so many available options and that too with the luxuries, comfort, and risk free environment of Dubai, people prefer visiting Dubai compared to other tourist destinations in the world as they are sure to get their desired residential or commercial property according to their requirement either temporary or permanently. And since hotels, and Dubai hotel apartments, along with rental flats, apartments, and villas offer unmatched luxuries and comfort to the visitors and immigrants coming to this part of the world, a unforgettable experience for life time. Also the greater availability of these hospitality options has encouraged people a great deal to tour Dubai.

Rental real estate property in Dubai are very much in demand as Dubai property rentals are very reasonable and provide a very affordable option to the tenants with comfort and luxury of Dubai. And since the legal requirement and the paper work for acquiring a rental property is made so easy by the government that tourists and visitors in Dubai prefer renting a luxurious and comfortable villa compared to other available options. Another reason is that these rental properties provide all the necessary requirements of modern life style, and are being equipped with air conditioners, ward robes, cable TV connection, active telephone connection, and broadband internet connection, Kitchen with all its appliances, gymnasium and car park. All these facilities with such rational Dubai property rental have really increased the demand of rental properties in Dubai and made it an attractive option for the tenants to acquire.

Since the influx of tourists and visitors is increasing every year the demand of real estate property is continuously on the rise, especially real estate properties like flats and apartments, which is the main reason why almost every construction project in Dubai prefer constructing apartments and villas and has become a reason for the plentiful availability of ready to sell apartment Dubai in the real estate market. And it is due to that availability of ready to sell apartment Dubai that the prices of real estate properties has dropped a bit, which is a good news for the buyers. Also because flats and apartments in Dubai are comparatively lower in cost while maintaining the same level of luxury and comfort is another reason for it to be more in demand. The Dubai real estate provide plenty of options to its visitors and tourists but apartments and hotel apartments in Dubai are the most out class and fascinating accommodations with very affordable price or rent what ever the requirement may be.