Factors Driving the Dubai Real Estate Market
In the Middle East and in terms of global markets Dubai is quickly becoming the darling city of real estate investors and financial institutions. Following the declaration of freehold law in 2002 the Dubai real estate market has constantly been on the increase towards greater heights and has constantly been offering investors increase returns on an average basis of 10% per annum.
Various factors are responsible for the growth of the real estate market in any city or economy. Before investors plunge funds into or lay their hopes on the future prospects of such real estate markets they have to understand what factors are driving the growth of the real estate market and how long these factors can be sustained. The Dubai real estate market is not driven by one or two factors but by a whole myriad of factors. The factors are ultimately strong indicators that the growth of the Dubai real estate market can be sustained for a long time to come. With the perceived longevity and hopes for the future investors can fully plunge head-on into investing for future gains in this beautiful city of the UAE.
One factor that drives any real estate market is the economy and the influx of foreign capital into any economy. Dubai and the UAE have both a stable economy driven not only by oil like other typical Arab countries but by other older industries such as the precious minerals industry and the crude oil industry as well. Other than these factors you have the fact that Dubai has plunged huge amounts of investments into creating a strong tourist economy that rivals some of the oldest known tourist havens in the world. Newer areas of the economy are being developed and these areas include areas such as the manufacturing and financial markets.
Such ventures are only leading to the convergence of parties’ intent on investing in the Middle East, thronging into Dubai for business. We are quite aware that the presence of these businesses and employees they bring in, promote the need for office and living accommodations further opening new vistas in the Dubai real estate market.
Something else that is necessary for development in any real estate market is financing. The Dubai real estate market has access to some of the world’s best funds in terms of real estate financing for serious investors willing to take their chances.
If you already own property in Dubai you can easily benefit from the opportunities in the Dubai real estate market. All you have to do is contact the websites of any services that specialize in leasing out property for short term purposes to expatriate visitors to Dubai. These people will find you people which can rent your Dubai real estate for a short period of time and you can make money from owning your property with out lifting a finger. A lot of people use these websites in order to advertise their Dubai real estate for short term rental purposes, so whether you own a single apartment or a group of apartments you can get information on renting out your own property today.