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Dubai Property Investment Guide
 Since the right for foreign nationals to own freehold property in Dubai was passed in 2002, real estate prices have exploded. The property market has continued to to rise at a breakneck speed and is still not showing any signs of slowing down. Savvy property investors, lured by the tax free lifestyle, year round sunshine and pristine sands of its beaches have continued to back Dubai as a hot prospect. The excellent facilities for business, leisure, sports, shopping and healthcare
have helped Dubai to fast become the 'playground of the world'.
Featured Off Plan Property in Dubai from Damac Properties
Madison Residences
Plot No: COL/2/206
Development Name: Madison Residences
Open Market Value (OMV): 862,000 AED (£119,293)
Sale Price: 862,000 AED (£119,293)
Reservation Fee: 10,000 AED (£1,384)
Exchange Amount: 86,200 AED (£11,929)
Completion Date: Winter 2011
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Lakeside
Plot No: LSC/1/C121
Development Name: Lakeside
Open Market Value (OMV): 1,250,000 AED (£172,989)
Sale Price: 1,250,000 AED (£172,989)
Reservation Fee: 10,000 AED (£1,384)
Exchange Amount: 125,000 AED (£17,299)
Completion Date: Winter 2010
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Ocean Heights
Plot No: OHN/16/1605
Development Name: Ocean Heights
Open Market Value (OMV): 2,326,000 AED (£321,898)
Sale Price: 2,326,000 AED (£321,898)
Reservation Fee: 10,000 AED (£1,384)
Exchange Amount: 232,600 AED (£32,190)
Completion Date: Winter 2011
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>> View all properties advertised for sale by Damac Properties 
Useful facts about Dubai for Property Investors
- Time Zone - GMT +4
- Exchange Rate: £1 = £7.22 (correct as of February 2008)
- Deposit Required: 10%
- Capital Gains Tax: N/A
- Peak Letting Season: September - May
- Average Property Prices: 1 bed apart: £35,000 / 2 bed: £150,000
- There is no restriction on transfer of funds into / out of the country from the Dubai Government
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Reasons to invest in Dubai Real Estate
- Very high standard of living
- Year round sunshine
- Tax-free environment
- Cosmopolitan
- over 190 nationalities and large expatriote
community
- One of the safest cities in the world
- Low inflation
- Low cost of living
- Stable currency
- Peaceful co-existence of ethnic groups - multicultural and tolerant society
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The Buying Process
All homes for purchase by foreigners are located within certain areas,
with resident visas issued on completion for those wishing to make a permanent move.
- A lawyer, familiar with Dubai law
is highly recommended.
- A simple sales agreement is the only document required for purchase. However, this is legally binding and should only be signed when all reasonable checks have been
undertaken and all negotiations completed.
- Most property for sale in the UAE is new-build - there is little
resale property available.
- 2-4% stamp duty is payable on property purchases in the UAE.
- There is no income tax or capital gains tax on property sales or rentals in the UAE.
- You will need to have a certified income to gain a mortgage in Dubai. Lenders will not take any rental income into account when assessing your application.
- A 1.5% land registry fee is also payable on completion.
- The most lucrative property investments in Dubai are bought off-plan.
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The Dubai Economy and vision
The most lucrative property investments in Dubai will be bought Off Plan
Dubai invests 11.6% of its GDP into tourism, the fastest growing sector of its economy (Dubai Development and Investment Authority). This represents no less than $1.9 billion of economic activity.
The Dubai Government intends to increase the number of visitors to Dubai from 2.8
million in 2000, to 10 million by 2010, and it looks like they are on track with more than six million visitors recorded in 2006 (Source: The Department of Tourism and Commerce Marketing).
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