From Rags To Riches – The Progress Of Dubai Property Market
Dubai has developed from a mere fishing village in the gulf to a rich brimming state seemingly overnight. With oil money fuelling Mohammed bin Rashid Al Maktoum’s aggressive campaign to turn Dubai into worldwide tourist destination, many architectural projects have sprung up with the Burj Hotels and the palm jumeirah villa Islands at the forefront. These have attracted worldwide attention and have turned Dubai into a property hotspot. With the Freehold Law passed in 2005, foreigners have the luxury of leasing property in the peaceful land of Dubai and are able to sell or rent out property.
Investing in Dubai property has many advantages. Firstly, Dubai levies no income tax or Capital Gains Tax including the money coming from rentals and with the population of Dubai expected to effectively double in the next 5 years, rents are highly likely to increase which will turn Dubai into a money generating asset. Buying dubai property is quite simple with little paperwork involved. Also, foreigners are easily granted permits without them being required to stay in the country. Only a brief visit every six months is enough.
With the ever increasing prices of hotels in Dubai, holiday rentals have become a popular alternative to hotels. Many people now prefer to rent holiday Dubai villas for rent as opposed to hotels with the most popular being the Palm Island villas and the Beit Al Bahar Villas. These villas are situated at amazing locations and offer spectacular views of Dubai’s many architectural wonders. They are located near the Dubai’s main attractions such the famous Atlantis and popular water parks like Aqua Venture. Many villas also offer beachfront locations with picturesque views of Jumeirah Beach.
All villas also offer swimming pools with each villa also having individual gardens and terraces. High-end villas located on the Palm Jumeirah are considered one of the most luxurious in the world and have everything you expect from a 4-star hotel. They have spacious floor plans, great views and as with all villas in Dubai, they offer fantastic shopping malls all close by.
All in all, dubai villas for rent are a fantastic location for tourists and investors alike. Whether you’re looking for a getaway retreat or are on the lookout for a successful business venture, Dubai with its peaceful environment and booming economy is the right place for you.
The Palm Jumeirah is a self-proclaimed “Eighth Wonder of the World” and is claimed by the developer to soon become one of the world’s premier resorts and a destination for tourists all over the world. With such hype surrounding the project, it is understandably quite an expensive proposition. The property here does not come cheap, however, with the rapidly collapsing Dubai economy; many people want to sell their villas while others are putting their villas up for rent.
The villas’ rents are subject to season and change according to the tourist traffic. May to September is the low season whereas December to June is the peak season. One particular villa directly facing the Burj Al Arab is available for rent for around $19000-20000 per month whereas another is available for around $25000.
Mark Walters has been associated with Kleindienst for the past two years. He is professional realtor with an interest in writing. He has written a number of articles for almost all topics under the sun, however his best work are those associated with the industry. His graph of the market and its dynamics enable him to write lucid articles on dubai property | dubai villas for rent and palm jumeirah villa that are not only informative but practical for the readers.
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