Dubai Real Estate

Dubai Real Estate
The attraction of property in Dubai has been consistent
over the past 3 years. Investors who bought early are
already reaping the rewards of this unique and exciting
property market. What makes this market different to the
rest are the types of property being bought and the way it
is being financed.

Types of property tend to be luxury apartments being bough
pre construction. The way they are being financed is with
the investors own money. Buying off plan allows Dubai
property investors to make payments in stages over 2 or 3
years.

Dubai is the most populated and second largest Emirate in
the United Arab Emirates. It has seen enormous construction
and has attracted investors worldwide to its real estates
projects.

The good news is that the Dubai real estate market is
maturing and the big banks have woken up to the fact that
Dubai mortgages are potentially very big business.

The early troubles with a Dubai mortgage all stemmed around
the difficulties foreign buyers had securing the freehold
on a property. Since the announcement on March 12 2006 that
non United Arab Emirates nationals may be given the right
to own freehold properties in some parts of Dubai, massive
interest has been stirred in overseas property investors.
Demand is surging and real estate is in short supply many
off plan developments sell out in days of release.

Now with laws passed and established zones in Dubai where
freehold ownership is not in question the banks are finally
acting. The Dubai mortgage market is set to be one of the
most competitive markets in the world. The worlds investors
are looking at Dubai long and hard. Investors will not
tolerate being ripped off with high price mortgages.

Unlike many overseas markets most freehold property in
Dubai has not bought with mortgage finance. This gives the
market a huge amount of resilience. Many of the mortgage
providers in Dubai will only lend to non residents in the
Dubai freehold zones.

Properties for sale that are suitable for foreign buyers
are in the following freehold zones: Dubai Sports City ,
Dubai Marina , I.M.P.Z. International Media Production Zone
, Jumeirah Village , The Palm Jumeirah, Shaikh Zayed Road,
International City, The Lagoons, Palm Deira, Jebel Ali
Airport, Emirates Road, Dubai Land ,Business Bay ,Downtown
Dubai and much more

So what is attracted international Banks to Dubai that's
simple money and plenty of it. Dubai's population is
currently in the region of 1.4 million citizens, by 2010 it
is expected that Dubai will be home to 3.5 million
residents. The Banks anticipate a huge demand for property
and in turn a big demand for mortgages. The large multi
nationals will be moving in and with them their employees
all needing a place to live.

Most of Dubai population is set to be made up from people
from overseas. Dubai will be truly multi cultural multi
national and that feeling is already in Dubai. Experience
Dubai nightlife and you will see it is a truly multi
national experience.

The future for the big banks is bright as overseas
investors will feel more secure going with mortgage
providers that they are familiar with.

In all Dubai appears to be a great place to invest in real
estate

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Author Nicholas Marr works for overseas property portal and
has been working with Dubai real estate for a number of
years.
http://dubai.homesgofast.com