Good Time to Buy Real Estate in Dubai?

By
Real Estate Broker/Owner with Harcourts Prestige Properties of La Jolla DRE# 01276329

Dubai has some major renovation coming before welcoming visitor for the World Exposition in 2020, an event expected to bring 25 million visitors and a multitude of skilled professionals. The renovation will be known as Dubai Creek Harbour and will feature a high-end residential area, shopping mall, as well as the largest Chinatown and tallest structure in the world.

 

The political infrastructure has recently adapted to the growing city with 10-years visas for investors /science/medical/ and technical professionals and 100 percent ownership for foreignors in Dubai-based business. While Dubai has primarily been an investor market, a 10 year visas will hopefully convince people to settle down.

 

While this is a favorable plan, UAE law requires property investors and foreign workers to renew their residency visas every two years, which is a short time for anyone thinking about homeownership.

 

To read more about the Dubai’s real estate rise, click here

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