Buying Property in Dubai: Factors Influencing Buyers’ Decision
Because of its impressive new buildings, biggest theme park in the world, tree- lined boulevards, and magnificent shopping malls, it is voted as one of the world’s best holiday destinations. It is also acknowledged as an emerging commercial hub and one of the most desirable places to live here on the planet.
Recently, the Government of Dubai has opened up doors for purchase of freehold properties in approved projects in Dubai. The purchasers who are registered will be entitled to a residence visa including the whole family. This will be issued by the Dubai authorities under their standard conditions.
Aside from this, the changed property laws in Dubai and the growth in tourism has also led to huge investment in the property market. Because of these reasons, many people now consider of buying property in Dubai.
But there are other factors that influence buyers’ decision of purchasing a property in Dubai. Here are some of these factors:
Dubai is the second largest emirate in the United Arab Emirates. Its total area is around 1000 square miles. It is divided by the famous Dubai creek or Khor. It sits on the serene Gulf coast and has a wild and beautiful natural desert and mountain landscape inland, so multiple outdoors pursuits are also within easy reach. It is located at the crossroads between the East and the West, with scenic beauty and a modern infrastructure.
This natural harbor and its strategic location on the international trading map have made it one of the world's leading trading and commercial centers.
Quality of Life
Dubai has spectacular hotels, restaurants and leisure clubs, offering superlative service. Because of this, a lot can be done in Dubai and it does not need to cost a fortune to enjoy a vibrant lifestyle. You will also find that there is a huge “mid-market” in terms of entertainment options and a constant stream of attractive offers to entice you out on any day of the week without sacrificing too much on quality or service.
Being literally crime-free makes the United Arab Emirates one of the most attractive places to live in. Dubai, in particular, has a public security record, which is the envy of most of the rest of the world. Burglary here is very rare and street crime virtually non-existent.
In addition to this, all of the newer communities in Dubai are protected by 24-hour security services, employing real people to guarantee your peace of mind, in addition to the standard CCTV systems!
Dubai has an amazing amalgamation of the traditional values of the East and the modern technologies of the West. There are almost 200 different nationalities represented in Dubai, which is a surprising statistic, considering that the recent population is only around 1.7 million.
This rich ethnic mix, being a melting pot of various nationalities and cultures living together and working in harmony combined with the traditional Arabic values of courtesy and hospitality, has resulted in a highly tolerant society. Such diversity also results in the broadest imaginable range of choice in terms of culinary and cultural pursuits.
The financial advantages of owning overseas property are always difficult to calculate, as one does not exactly know what the future may hold in a turbulent world economy. However, Dubai is a city with a 20-year track record of strong economic growth and will continue to attract foreign and regional inward investment. It is noted to be an environment providing minimal tax burdens and a lot of people here earn high tax-free salaries and are in a position to support higher house prices.
Buying a property is not an easy undertaking because there is far too much at stake. Once you already made that purchase, it is hard to refund when you find out that it is not actually the property that suits your need. That is why you should never take on any property purchase decision lightly.
All the factors to consider when buying a property in Dubai should be carefully looked into before arriving at a decision. Make sure also that you have all the necessary information in order to help you make the right decision for your needs.
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