Long Awaited New Dubai Property Law
Mar - 27 | 
5 comments. | 
Dubai Property, Overseas Property News
It has been discussed and debated amongst the property community and finally on the 15th of March the Dubai Government announced that foreigners would be able to buy freehold property in designated areas. For expatriate owners who have already invested in the Dubai Property market will have the opportunity to register their titles with the Dubai lands and properties department.
So will this revitalise the real estate market?
Many leading estate agents are predicting a new wave of prospective buyers to come into the market on the back of this change and with rental yields looking particularly strong, these could really make the market become a choice destination for the overseas property investor.
Does this make you feel more secure about buying in Dubai?
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I had a look around the dubai market and I wasnt impressed with the british girlies trying desperately to hyp up the market, I feel it will better to look at this market next year, you say that rental yields are high but in the summer the weather is unbareable, I would urge anyone calculating rantal in this area to discount at least 4 to 6 months of the rental income and you will see that a 17% becomes 50% of that.
Do your research carefully, its a risky area with developers changing things to accomodate in a competitive market.
James
I agree with what you are saying, rental yields are always hyped up and there are only so many renters to go around.
When it comes to renting my response is always the same. Invest in good marketing with media that delivers results. A little trial and error is needed to see which magazines, websites work, but it is worth it.
Dubai’s summers are very hot and that will put many people off coming on holiday, so like most markets, there are definative seasons, so make sure you make the most of them!!
Cheers
A
I have been looking at the Dubai market for some time.
I’m beginning to read some disturbing stories of shoddy workmanship, overbuilds, and a manic market that is growing too big too quick. Are my fears justified do you think?
We recently holidayed up the road in Abu -Dhabi and it was gorgeous. A lot slower paced and of course not the building work going on at the moment. If I were ready to ‘pitch-in’ I think we would opt for AD. I think it will be bigger and better than Dubai in years to come. Lets not forget that Dubai oil is fast running out – hence the mad rush for new build and tourism. Whereas AD is in it’s infancy albeit expensive from the off. Plus AD has about 50 years worth of oil left and so can afford to build quite superb office and residential developments.
Personally, given the cash, I’d opt for Abu-Dhabi.
Barry
I any market there are always stories flying around that try to show an area in a negative light. I believe that there will be some developers that are taking advantage of this market and not finishing developments well or sticking to their original plans. However this is about choosing the right developers to work with in the first place.
Abu Dhabi is certainly a market to watch and you are correct they are not rushing into this building frenzy and as such wil probably plan urban areas better, it remains to be seen. Let us know if you decide to purchase in AD and we can follow up this story.
dear sir,
i m looking for a property in dubai,apartment wit i bedroom,by which i will be able to get the visa of 99 yrs,n 1 more thing i would like 2 know if this visa is only for the owner for the family, we are five in a family,is there any amt bounding of investment for getting visa for all