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Dubai Real Estate - Past, Present and Future
Over the years, there were several positive changes in Dubai's property sector. One of the most important developments was undoubtedly the 2002 ruling that allowed foreign ownership of properties in freehold areas of Dubai. This is followed by the enactment of a law that made escrow accounts compulsory for anyone Dubai developers selling off-plan properties. These accounts provided significant security to buyers, instilling in them greater confidence to purchase Dubai properties.
In consequence, Dubai's property sector matured rapidly. Some signs of a healthier and mature real estate market are stability in property prices, increased transparency in real estate laws, protection of investor's rights and greater competition among developers.
With all this being implemented, Dubai's real estate sector was bound to attract a substantial number of investment. Dubai is now well-known throughout the world for constantly introducing top notch projects offering unique opportunities, strong mass appeal, and high returns with an assortment of excitement and enthusiasm.
Efforts by the Government of Dubai to establish a regulatory framework through Real Estate Regulatory Authority and Dubai Land Authority that addresses company laws, financial laws and real estate laws has given both private and institutional investors greater confidence in buying Dubai.
As always, a great regulatory foundation is critical to encourage foreign investment anywhere. The rulers and Government of Dubai have always sought to advertise a solid natural association between Dubai and luxury. As a result most real estate developments from hotels to resorts to apartments and villas have dedicated to the premium segment of high net worth individuals and families. Additionally, with the increased land and construction costs in Dubai, developers have chosen to develop projects at the blissful luxury level to make them more economically viable.
Research has proved that there exists strong end-user and investor demand for lifestyle themed projects both locally and internationally. For instance, golf and waterfront projects have tremendous lifestyle appeal and consequently are becoming an important part of Dubai's development strategy. These luxury custom homes on the waterfront or in exclusive themed localities come fully landscaped providing such elements as resort style swimming pools, manicured gardens, outdoor seating areas and expansive patios for dining and entertaining. With a large quantity of villas already sold out, it has established an effective impact on those buyers who are looking for a unique property proposition.
Representing the wave for the future, resort homes provide residents with the knowledge of living in a top class resort through the year. These homes have already been created by architects, interior designers and landscape planners from the hotel and resort industry. So the caliber of finish and focus on detail in these resort villas could perfectly be in comparison to those found in top class hotels or resorts. To complete the entire experience, these villas come with a dedicated concierge service. It's these features that will distinguish resort homes from conventional housing.
Coldwell Banker is one of the oldest real estate firms in the world. The business was formed in 1906 in the USA and takes its name from the partnership of Colbert Coldwell and Benjamin Banker. Today it has an international presence in the majority of the world's real estate hotspots. The firm's commitment to customer support and professionalism remain the cornerstones of its business philosophy. We believe which our progress is dependent upon yours. Do contact us if you are enthusiastic about buying the Dubai property market, buying or selling in the Dubai real estate market, or wish to rent property in Dubai for the short or long term.