June 7th, 2017 by Own A Space
Dubai, from its beginning as a fishing port has transformed into a global genius today. By defining the terms and extraordinary to capture the world, Dubai has glamour and grandeur as it creates the first, biggest and largest development in the world.
Tallest skyscraper, grandest hotels and longest automated network of metro truly makes Dubai a world of wonders. Dubai has become the tourism and business hub along with becoming home for millions of residents who celebrate in its lifestyle approach. By mixing the unique hotspots for entertainment, luxuries, capital status, golden sandy beaches, Dubai offers a dream living.
Picture Courtesy: wixstatic.com
UK visitors have increased because of Brexit and subsequent 20% of currency devaluation. Overnight visitor’s record also goes to Dubai in 2016 with 14.9 million, which is a 5% increase from 2015. 25 million visitors will be there by 2020 and for the third consecutive year, Dubai International Airport will rank the busiest in the world.For 3.5 billion people, Dubai is the commercial capital from its Indian subcontinent, Middle East and Africa. Around 40% of the global population consists of them. And most recently Dubai has become the main hub for world’s wealthy property investors. Its attractive real estate investment market ranks second in the world for high net worth individuals, after London.
Picture Courtesy: i.ytimg.com
The transactions for real estate in Dubai has shoot up to Dh77 billion in 20,000 deals in the first quarter of 2017 which is a 45% of rise as compared to previous year, according to Dubailand Department.
Series of mega projects have been launching in the emirate and the property sector will see a ramp up in 2018, because of growing demands for new apartments, prior expo 2020. There are 400 active projects worth 312.6 billion which sets the stage for Dubai’s solid growth in the construction sector.
Picture Courtesy: radissonblu.com
Dubai properties offer the world’s best investor return in terms of rent and appreciation as compared to 75% in London and 63% in New York. Around 20-30% of real estate appreciation annually is enjoyed by Dubai as it offers high yields of about 7 to 10% on rentals and to other major cities of the world. Borrowing from the bank for home loans and mortgages is at 4%. So even if anyone borrows, he she still makes 6% on an average per year which makes a valid reason for people to buy the properties in Dubai and have sided income from rents while the property keep increasing in value.
Get Connected To Us On Social Media:
Google Plus: https://plus.google.com/+OwnASpaceDubai