It is a known fact that financial markets
all over the world are facing a recessionary trend. Property prices all over
the world are showing negative growth because credit is hard to get. One market
that has remained unaffected by this credit crunch is the Dubai property market. Development of
properties is growing at an unprecedented pace, and most properties under
construction will not be ready for occupation until 2010. Many large investors
in the world still look at the Dubai
property market as the most profitable investment. Also, no negative impact is
seen in property rentals and resale of properties.
Most people felt that investment in Dubai’s property was a
bubble waiting to burst. They were proved wrong, as Dubai is still considered to be the one of
the most lucrative and the safest places for property investments. One of the
main reasons for this is the ever growing property resale market. The property
resale market is growing at a steady pace, and refuses to show any signs of
negative growth. People investing in Dubai’s
property market are brimming with confidence as they are confident of getting
high returns on investments made on property. People estimate that prices of
properties under construction will increase by at least 25 percent, and those
completed will increase by at least 50 percent. All this makes Dubai property a
great credit crunch investment.
Dubai no longer has larger oil recourses, but let’s not forget that it
made huge money when it produced oil. The enormous amount earned by exporting
oil is finding its way into the property market of Dubai. Property construction is developing so
rapidly that it is hard to find a block where no construction is taking place.
One of the most talked about and happening
projects is the one coming up at the Island
of Ireland.
If you looking to invest in penthouse suites, beach-facing homes and villas,
then the Island
of Ireland is the place
to invest. Apart from Villas, Suites and Penthouses, you will also find restaurants,
spas, cafes, boutiques and all other facilities that you can dream of. The
total project area of Island
of Ireland is over 225 000
square feet.
The Island of Ireland
is not the only place you can invest in. Palm, which is situated at Jumeriah,
is another investment hot spot. The project is in the shape of a huge date palm
and is man-made. To build this giant date palm more than hundred million cubic
feet of sand has been used. Palm is being constructed in the area between the
gulf and the mainland. Once the project is completed it will address the problem
of the shortage of beaches in Dubai.
A monorail has been set up to take people to the Palm. Famous personalities
like Michael Owens, Joe Cole and David Beckham have bought properties here.
Property prices in Dubai have gone up more than 10 times in last
six years. There is an unprecedented rise in demand for ready-to-occupy
properties, which has resulted in a shortage of these properties. This has
resulted in the demands of many investors remaining unfulfilled. With people
predicting that property prices will increase further, there are no signs of a slowdown
in the Dubai property
market. So if you are looking for investments with assured returns then Dubai property market is
the right place to invest.
