Dubai Real Estate Investment

Real estate in Dubai is flourishing. Recently recognized as the most popular tourist destination in the world, Dubai is attracting not just tourists but a wealth of investors as well. It seems that a lot of people want to have a piece of the second largest city in the United Arab Emirates, and it is not surprising to see why.

Currently, Dubai has around 1.4 million residents. By 2010, the number could more than double. With the growing popularity of Dubai, more people from around the world are taking interest to make Dubai a second home. Big international businesses and companies will move in, taking with them their employees. More people will require more houses to build, and more properties will be out for sale. With this demand for more properties, the mortgage business will be expected to soar, and this can spell out more money for local and international banks.

Many years ago, the real estate industry was anything but this. During those times, getting a mortgage to fund a real estate project was very difficult and very costly, too. Banks are not very welcoming to the idea of real estate and mortgages then. One contributing factor to this lies in the investorís inability to secure the freehold on a property. However, following the advisory on March 12, 2006, which gave nationals of United Arab Emirates the right to own properties in certain parts of Dubai, the real estate industry started to pick up also, and big banks which have come to realize the potentials of the industry eased on their mortgage policies.

There is now a strong demand for real estate properties. If you are not a resident of Dubaiís freehold zones, you have greater chance to be accommodated by banks and mortgage providers if you are applying for a loan. Take note of the following freehold zones in Dubai where properties are available for sale --- Dubai Sports City, Dubai Marina, I.M.P.Z. or International Media Production Zone, Jumeirah Village, The Palm Jumeirah, Shaikh Zayed Road, International City, The Lagoons, Palm Deira, Jebel Ali Airport, Emirates Road, Dubai Land, Business Bay, Downtown Dubai, among many others.

It certainly must be very exciting to live in a top tourist destination like Dubai. Whether it will be in the 50 million square-foot Dubai Sports City, or in beautiful, cosmopolitan Dubai Marina, or the world-class Jumeirah Village, or somewhere else in Dubai, you will definitely get a taste of everything that earned Dubai the much coveted title of Most Popular Tourist Destination in the World. The best thing about it is that acquiring properties in Dubai is no longer a tedious and expensive process with many international banks lifting their once-stern mortgage policies in favor of the consumers.

The Dubai real estate business in is booming, so if you want to invest in real properties in Dubai, now is the most appropriate time to do it. If money is a problem, you can always turn to banks to help you build your dream home.