Freehold property in Dubai: A hot cake to purchase

Dubai is a safe country to stay in or visit in the world. Real Estate in Dubai is flourishing and there are no indications that this boom will end. Many developers & construction companies have come up and are bringing new projects every day. Dubai has experienced unmatched growth in properties also along with its quick growth.  Until year 2000 Dubai property was hardly appreciated. However post 2002 Dubai real estate mounted just like the properties in the USA after 1970’s. Therefore, for the people who want to appreciate their money or for those who want to stay there for long term it is a good idea to purchase a freehold property in Dubai.

In 2001, announced a plan by which the foreign people could purchase a property on a lease of 99 years. After that the purchase of property by the foreigners increased. Before that the foreigners were not allowed to own the property in Dubai. After this, the concept of freehold properties in Dubai came into existence. Today, as a foreigner you can purchase a freehold property in Dubai. But you are allowed to purchase the property in selective areas only. These areas are mostly on the outer skirts of the city. Some of the areas are Jelbel Ali, Dubailand, Jumeirah and Sheikh Jayad Road. 

According to the permission granted by the Dubai government to the foreigners to purchase the property, they can now purchase the property in their own names and can transfer or sell it as per their own wish without any interference of the Dubai government. This was not the case earlier. You were not given the exclusive rights on the property. You had to be satisfied by the ‘bill of sale’ given by the developer of the property.

Expert says that the city has a great climate and has low crime percentage as well as political stability. Due to this, the property rates are sure to increase. But on the other hand property investments in Dubai are as jingled as at any other place on this earth. The available data on Dubai indicates that rates of properties in Dubai have increased by 79% since the beginning of 2007. But we do not have to take the advice of experts as the last as the last on this subject. We can always seek advice from other property buzz or websites regarding the same. After proper investigation and homework you can take the judgment that whether the investment in properties of Dubai is good or bad.

You can invest in Dubai as a short term investor or as a long term investor.  It is for you to decide but before investing keep it in mind that short term period of investment returns are not that fine. After the economic slowdown started in late 2008, a lot of discussions on investing in Dubai have come up. However there is still money to be made in Dubai if you know that what you are doing.  Experts also say that Dubai Property investment makes wonderful sense whether it for short term investment or investment for the long run. Purchasing a freehold property in Dubai is still a hot cake.

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