There are many people contemplating to purchase real estate GCC. Finding the right property can help them to enjoy the numerous benefits that come with it.
Traditionally having offshore properties has been attracting people in huge numbers from across the globe. There are many who tend to dream always about owning properties overseas. With the world shrinking very fast and gearing towards becoming a global village, there have emerged new avenues of investments for everyone to explore. Again traditionally, Asia has been an investor’s choice always due to its unlimited untapped potentiality. With market boom in Asia and mortgage market in the western countries going down, it does make a wonderful sense to make investments in real estate GCC. Moreover, with dollar devaluation going on, this is rather the perfect time for making off shore investments. Middle East has been regarded to be among those closed economies, while trying to own real estate abroad. But, present progressive regime at the UAE is said to have made every effort to open up the sector exclusively to foreign investors.
Why to consider UAE?
UAE and more particularly Dubai is known for its modern mega malls, excellent infrastructure, open work culture and mixed ethnicity, hence, making it the best tourist destination. With sprawling malls, night life and beaches, it is considered to be quite good like any western country. It also offers wonderful living conditions and is much affordable than any other country. An advantage derived from residing there is to avail affordable household assistance.
Who can own properties in the Emirates?
Almost in all of Emirates, only GCC and UAE citizens have been allowed to own properties. But Dubai is considered to become the very first emirate that allows investors to own a freehold real estate. This effectively means that foreigners can purchase real estate properties of freehold type in Dubai under her/his name and is also eligible to sell it, transfer or lease it to others. Owner as well as his immediately family members would avail permanent resident visa for a life time.
Where to purchase in Dubai?
Dubai presently has become the hotspot for purchasing real estate GCC among foreigners. There have been plenty of constructions going on. The best and the biggest of them are considered to be Dubai Palm Island. This is projected to be the biggest as well as the most beautiful palm shaped island in the world made by man. This place also boasts of having several celebrities from across the globe having their properties located here. This island is also claimed be easily visible from space! Having a property here, is likely to bring the owner immense respectability of international stature. When residing at Palm Beach, the individual might indeed have come across numerous celebrities. Besides this, there are also noticed several developments like the Burj Dubai, Dubai Marina, Arabian Ranches, Jumeirah Lake, Dubai International City and much more.
About the up-side potential
There are many who may doubt about the present boom in the region questioning its longevity. People, who have purchased properties two years or so back, are said to have resold it for about 45% to 50% profit margin. Therefore, considering purchasing one in the region is indeed a good decision made.
Outlook of real estate market in UAE and Dubai
Real estate UAE is being constantly monitored by the government to ensure that it is led back to the road of recovery and witness growth and development in the future.
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