Just Give Me Eleven Reasons to Buy in Dubai

Buying overseas property is not always for the fainthearted but we think Dubai is an exception to this. Here are eleven reasons to buy in Dubai:

1. Property prices look cheap by International standards, and rental yields are still high in Dubai.

2. Rental Market: Long-term residents of U.A.E. are considering buying to replace rental payments and to take advantage of the ever increasing market demand for property in Dubai.

3. Future Development: There is a big change in the city's geography underway with huge plans for the future. What is the fringe of Dubai today, the Dubai Marina, will be uptown Dubai of tomorrow. Thus property values will follow this curve upwards, as people relocate to the new "Centre".

4. Good Prices: Comparatively property is cheap compared to other major cities in the World. Dubai villas cost around $1,000 per square metre. London on the other hand are selling apartments in London Docklands area at $5,000 per square metre an amazing difference.

5. Prime Locations: Oversupply is the main fear highlighted by skeptics. But there can only be so many properties in prime locations and the time to buy them is now. Most projects are now fetching three times their original price.

6. Freehold Laws: Legally, there is no law to prevent freehold purchase in Dubai, and a new federal law should shortly frame legal rights into a form acceptable to international banks for mortgages this will push demand and prices up even higher than they are now.

7. Demand for freehold property in Dubai is much higher than most people can comprehend and understand. Certainly an economy growing at 10% plus a year has a dynamic effect of its own that reflects a huge demand for accommodation.

8. Sound Market: Any property market is going to have its ups and downs, and Dubai will be no different. All the same, Dubai has a habit of frustrating those who wait for bargains. In 1998 some thought rental prices would collapse. It did not happen they are still on the up as is Abu Dhabi.

9. Dubai wants you: Dubai is in the process of creating an international property market from scratch. As a result buyers are being given an exceptionally good deal to encourage them to be the pioneers of this market with very low deposits.

10. Resale Market: As the second-hand market emerges and the legal position of owners becomes absolutely clear, the element of risk will go, and lower risk will mean higher property prices.

11. Economic Growth: Dubai is a city where a lot of people earn high tax-free salaries and are in a position to support higher house prices. This is a city with a 20-year track record of strong economic growth and will continue to attract foreign and regional inward investment for many years to come.

So why not buy in Dubai - it could be the best thing you ever did!

Nicholas Marr
Director of Marr International Ltd a property marketing compnay based in London UK.
Marr International selling property on behalf of private sellers and estate agents worldwide - http://www.homesgofast.com/dubai/

More than 40 states signed onto a proposed $25-billion deal with major mortgage servicers over faulty foreclosure practices. New York, Nevada and Delaware joined California in holding out for better terms.

More than 40 states signed onto a proposed $25-billion settlement with major mortgage servicers over faulty foreclosure procedures, but California, New York and other key states were still not among them.

California has until Monday to share in a multi-state deal with banks to obtain mortgage relief and reforms. Atty. Gen. Kamala Harris, who walked away from talks last year, says the door remains open.

With a Monday deadline at hand, California officials have resumed direct talks with the Obama administration about joining a multibillion-dollar, multi-state mortgage settlement with the nation's largest banks, a source said Sunday.

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They don't believe they can sell their property for what it's worth, so they're spending money on making their homes more comfortable.

Do you fit any of these descriptions?

A biennial research report by the National Assn. of Realtors indicates that a handful of real estate agents and brokers and their clients either don't know the law or don't care to follow it.

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The president aims to help about 3.5 million people with good credit who are unable to refinance at historically low rates because their homes are worth less than their mortgages.

 

The White House hopes to help millions of homeowners lower their monthly mortgage bill with a $5 billion to $10 billion plan to set up a streamlined refinancing program for people who are current on their payments.

The Standard & Poor's/Case-Shiller index of 20 large U.S. cities fell 1.3% in November from October as foreclosures continue to drag down the housing market.

Three straight months of home-price declines in the biggest U.S. cities showed that foreclosures remain a significant drag on a housing market that is entering its fifth year of deterioration.

L.A. Clipper Chris Paul may be quick down the court, but he moves pretty fast when it comes to buying multimillion-dollar real estate too.