Thread: International Property Investment & Dubai

Hi Folks

In the global property arena Dubai essentially kicked off some 6 years ago which now has extends throughout the United Arab Emirates (UAE) with a cluster of mega projects ongoing in Abu Dhabi, Ajman, Ras Al Khaimah along with Sharjah. The total number of registered property developers and real estate agents is over 4000 against a mixed population of more three million. After looking at this fact sheet we now hearing about a general opinion that the international companies have played a big role in creating UAE property boom (dubai property boom), but they may also be reassessing their strategy amid rising costs. Companies like Shell & HSBC are just of the few global companies that have picked Dubai as their regional head quarters and pushing up real estate prices. Over here It is easy to understand with this example that how far the property prices has gone up, “an average family with 2 kids relocating to dubai should budget at least between $120,000 – $150,000 in terms of rent, transportation & school fees. But if they want to own the property the cost will be much higher. An average three bedroom apartment in the UAE will cost about $60,000 - $75,000 a year to finance over 20 years and interestingly 20,000 dollars deposit upfront (Wowwwww) this part is for riches not for salaried class person.

The current turmoil in the global financial markets may have affected market confidence but for the discerning international property investors there are some surprising good deals in the global real estate market, especially in the GCC countries like UAE, which is commonly very popular with ME (Middle East) investors.

Nawaz