The United Arab Emirates, known at times as just “the Emirates,” is a country located on the southeastern corner of the Arabian Peninsula. It is bordered by Oman and Saudi Arabia on the eastern and southern sides. The country is relatively new, having been established in 1971. It comprises of seven different emirates, the most popular of which is Dubai. Each one of the seven different emirates lies under the governance of a separate monarch. Most of the economy of the country is based on oil, with the UAE featuring the seven largest oil reserves in the entire world.
Many people regard it as a global village due to the millions of travellers who visit from all over the globe. It’s one of the most diversified countries in the Gulf region, despite the fact that Sharia law still applies here. In the past, the country has received a significant amount of criticism for its heavy-handed punishments and the harsh implementation of Sharia Law. However, almost every international analyst agrees that the UAE is rising rapidly, and it is expected to become a middle power within the next few years.
Property Market Overview
The UAE is a very popular destination for expats. Millions of expats from different parts of the globe reside here. Due to the high quality of life, the ethnic and cultural diversity, and the sheer number of opportunities available to the people, UAE has arisen as a very popular destination for tourists. The UAE property market has grown by leaps and bounds during the past few years, and it’s expected that the market will grow even more in the near future.
With different housing projects already underway (many of which are being spearheaded by international development organisations), it’s easy to see why UAE is such a popular choice for expats. If you are thinking of investing money in the property markets, UAE is an excellent destination. There are plenty of investment opportunities due to the sheer number of projects getting underway.
Moreover, the local markets are also highly receptive to foreign investment. There are real estate agents and private developers who advertise properties in different countries in the region. If you want to invest your money in UAE, you can get in touch with a local property agent and begin your search. The agent will guide you through the different options available to you, depending upon your savings and risk factors.
Should You Invest Your Money in UAE?
The rising international profile of the UAE and the relative political stability means that UAE is a pretty safe choice for foreign investors. However, it really depends upon the amount of money that you are looking to put in and the amount of risk that you are willing to take on. Ideally, for first-time investors, it would be best to start by putting in a small amount of money and using a short-term strategy. Once you get the hang of the local markets and the factors that influence housing prices throughout the country, you can expand your portfolio further.
Get into contact with one of the local real estate companies, and begin building your property portfolio today!