United Arab Emirates
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Dubai was the first emirate of the United Arab Emirates (UAE) to get involved in freehold real estate at a time when the buying and selling of property in Dubai was previously restricted to GCC Nationals. The number of expatriates living in the UAE as a whole, especially Dubai facilitated the need to offer the many overseas residents the opportunity to make Dubai a permanent home. With the initial Dubai freehold property law coming into place in 2001, and subsequent property developments such as The Greens and Dubai Marina announced, all signs pointed to a successful future freehold market.
The need for residential space has grown at the same rapid pace as commercial space, meaning demand for property outstrips supply. Whether it is houses, offices, restaurants, showrooms, warehouses or any other type of property, with such high demand to buy freehold properties in Dubai , property rarely stays on the Dubai real estate market for any great length of time and investors should use a reliable property service like FazWaz.ae to make this process easier. (more…)