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This independent guide to property in Dubai covers investment hotspots, economical factors, maps, investment potential & the buying process & considerations of buying property in Dubai Islands.
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An exotic blend of ancient and modern, Dubai is predicted to emerge as one of the world’s investment hotspots within the next two years. UK property investors are slowly becoming aware of the country’s potential, where demand is sure to outstrip supply many times over.
Dubai basks in a subtropical and dry climate all year round. The months between June and September are the hottest and can reach 45◦C; the sea itself can reach around 40◦C at this time and the white-sanded beaches are a haven for tourists and locals alike. The city itself is a mix of startling contrasts that sees the calm of commerce set against the bustling and atmospheric streets of the Old Town.
An estimated 5 million tourists visit Dubai each year, but that is forecast to rise in excess of 15 million by the year 2010. The World Tourism Organisation believes that the Middle East’s tourism industry will be 50% higher than the world’s average by 2020. The US has also invested $5.7 billion in Dubailand: the world’s biggest tourism, entertainment and leisure development, which is set to encourage tourism even further in the region.
Dubai also boasts the fastest growing economy in the world. It is estimated that the current population of 1.4 million will increase to a possible 2.5 million in the next two years. Much of this growth is likely to come from expatriate professionals relocating to the city. With many of the world’s largest financial institutions setting up offices in Dubai and its location for trade with Europe, Asia, Africa and Russia, Dubai looks set to become a spectacular and exciting investment site.
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