While a majority of the financial markets the world over are facing a grim picture, one of the few places that has not been affected by this is Dubai. Improvement continues at an unprecedented pace and properties currently under building will not be ready to be occupied till 2010. A large estimate of investors worldwide are finding at Dubai as a very viable option. The resale and rental markets too have seen no negative impact.
There were analysts who felt that Dubai's aims were unrealistic and too high, but Dubai now is one of the safest and most lucrative places in the world to make real estate investments. One of the critical reasons for this is the burgeoning resale sector, which refuses to slow down. There is no dearth of confidence when it comes to investing in the Dubai real estate market. One should not forget that this is Dubai's development's early stage, and with what it has achieved so far combined with hereafter plans, investors are assured of reaping good results.
A new report said that prices of properties currently under building would growth by 25% whilst the building goes on, and by up to 55% upon completion. With returns like these, it is not surprising that interest factors remain high.
Dubai might no longer have large resources of oil, but the income that was generated when it did, was used for an titanic building agenda to make Dubai a foremost financial and tourist centre. building is so ordinary that it would be hard to walk a block without witnessing some new structure being made or renovated.
Amongst the most talked about upcoming projects, the Island of Ireland is one. It consists of beach-facing homes, impressive villas and penthouse suites. Spread over an area of 225,000 quadrilateral feet, it is home to cafes by the sea, a marina, restaurants, boutiques, a spa, and other facilities. It is a excellent mix of opulence and harmony, and has already seen many buyers.
Another favourite among investors is the Palm, situated at Jumeirah. The task has the appearance of a weighty date palm and is fully man made, using close to a hundred million cubic meters of sand. Its boundaries stretch from Dubai's mainland into the gulf. The Palm has also addressed Dubai's shortage of beaches, doubling the existent coastline. A monorail is to ferry habitancy across the island. David Beckham, Joe Cole and Michael Owen, all supreme footballers from England, have already bought property here.
A minute slowdown can be perhaps witnessed amidst the current prestige emergency but that by no means takes anything away from investing in Dubai. Real estate prices have gone up ten times in the last six years. Dubai is facing a shortage of 'ready to occupy' properties, which is resulting in the demands of investors not being fulfilled. There are predictions that say prices will growth by up to 10% by this summer's end. With no signs of slowing down, investing in properties for sale in Dubai, should be looked at one of the safest venture options as of now.
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