Dubai real estate is an international hotspot for investment and it has been drawing the attention of investors from all over the world for quite some time. Due to the high demand of Dubai properties, the prices of the properties have considerably increased over the past few years.
Dubai real estate is popular world wide because of the extraordinary architectures and magnificent designs. The demand for properties in Dubai and the investments made have increased over the years, because of the legal permission for freehold ownership of land and properties by people from other countries. Therefore those owning Dubai properties can rent or sell their property at any point of time. Moreover, if a person own property in some specified areas, he also gets a three year residence visa which is renewable.
Another reason behind people investing in Dubai properties is the coming in of multinational companies and opening more job opportunities in Dubai. People tend to move to Dubai due to increased job opportunities and start investing in the Dubai properties.
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Property in Dubai could depreciate in value by up to 60% during the course of 2009, according to UAE bank, Shuaa Capital.
The bank has cited negative population growth, project cancellations, and a lack of mortgage availability as the main reasons for its negative projection, with prices not expected to stabilise until at least Q4 2009.
Dubai Properties
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