In 2002, Dubai changed its constitution. It also passed the freehold law that permits the ownership of freehold real property in Dubai by anyone from outside the country desert safari dubai deals. And ever since then Dubai has been a global hotspot for property as the need for property has exceeded the supply. Having said that there is doubt at the moment that Dubai is probably the safest option for overseas investment in property.

Dubai has always been renowned for its architectural marvels and stunning designs. one example of the utmost architectural sophistication is the one of the world's most exclusive hotels with 7 stars located in Dubai. The demand for property located in Dubai is so great that the prices of property have experienced an increase of over two or three years.

Why the Real Estate Market in Dubai is on fire?

You're probably wondering what has caused the sudden rise in real estate investment in Dubai. The primary reason for this sudden increase in demand for real property in Dubai is due to the reality that the laws on property in Dubai permit ownership of freehold land for any foreigner. Owners of property can rent or sell their property whenever they want. Freehold property ownership also allows the owner to obtain the possibility of a three-year renewal residence visa. This law applies only to certain zones within Dubai. And the other big reason behind this increase in real estate prices in Dubai is the fact that there are no taxes imposed on property transactions or income in Dubai.

Another factor that could be considered as the driving force behind the current real housing demand in Dubai is the presence of a vast number of multinational companies. They have created lots of jobs in Dubai so the employees employed by these companies prefer renting properties or purchasing their own houses. This has considerably driven up the demand for the owned and rented properties and in turn made it more expensive for property and rental rates per month. Additionally, investing in property in Dubai is extremely simple and does not require any paperwork. and sales agreements are all that you need to purchase property in Dubai.

The most awaited residential developments that is located in Dubai is Damac Heights; the 90-storey splendor designed by top designer Aedas' house. The building is located over the Palm Jumeirah, this 8th artificial wonder provides the most luxurious penthouses, duplexes and 3, 2 and 1 bedroom apartment buildings in the world.