The United Arab Emirates (UAE) is a unique area of the world unlike anything you may have seen during the course of your life so far. Sunshine year-round, beautiful beaches, desert safaris, and a wide range of breath-taking structures are just a few of the assets enjoyed by tourists, investors, and expatriates. In the past, the UAE relied on oil as its main source of income, but it is now home to one of the fastest-growing tourist industries in the world and it has an economy to match. The UAE is expected to continue this steady growth for the next four years and beyond, making it the perfect place to start when you want to invest in foreign real estate.
Greater Space for the Same Price
In the UAE, you have a unique opportunity in the real estate market as you can find prime property prices that are low in comparison to other areas of the world. A million pounds may buy you 146 square meters in Dubai while it may buy you a mere 25.2 in London or 40.2 in New York. This increase in space for your money can be utilised in a wide range of ways depending on your investment interests. In addition, the increasing number of tourists and subsequent demand for residential and rental spaces means that now is the best time to invest. The key to a smart investment is to locate potential targets and make the right moves before prices go up and the same opportunities become unavailable.
Growing Tourism Means a Growing Economy
Tourism and travel made up 8.4% of the GDP in 2013, rose by more than 4% in 2014, and is slated to reach an even higher percentage by 2024. This is confirmed by the amount of job seekers, businessmen, and large businesses rushing toward Dubai and other locations to cash in on revenue expected from visitors. With a multi-billion-pound industry, you have an unlimited number of opportunities and chances to make a name for yourself and your company in the UAE. UAE real estate is thus one of your best options when looking to invest in a foreign market.
Demand for Housing
Investing in the UAE may give you what you need to multiply your fortune as the country braces itself for an unprecedented influx of visitors over the next decade. Any assets directly or indirectly connected to the tourism sector, such as furnished apartments, commercial spaces, and hotels, should remain in high demand for the next decade. Thus, they are a safe and appreciating investment on which you can rely. If you want to make a safe investment that is sure to give high returns, focus on opportunities that dip into the deep well of money coming from the tourist industry.
Talk of Tomorrow
Despite some analysts predicting a slowdown in the Dubai market, a greater number believe the realty sector is poised to grow throughout the year. This optimism is based off of rising population within the UAE and you can see proof of your chances in the form of over 200,000 work permits issued in just the first quarter of 2015.