Dubai is playing as a top player among all the other UAE real estate sectors such as Abu Dhabi real estate and the like. As the first emirate, offering immigrants the opportunity to buy property is capitalizing on a new source of investment abroad. Some experts have clear opinions about real estate in Abu Dhabi as they are seeing the increasing demand for apartments to buy and rent.
For the past two years, Ajman, Ras Al Khaimah and Abu Dhabi real estate have been the focus of attention of neighboring Emirates. Abu Dhabi has become more important as it is the capital of the United Arab Emirates and the best part is the richest Emirate. As the economy is booming and investor welcome policies are implemented for the real estate sector, it will be a very promising and attractive prospect for both industry and tourism. Some of these policies that will increase the demand for apartments for rent and purchase are:
Increasing government spending on real estate
Currently, the government is spending more than $ 6 billion for the development and expansion of facilities at the international airport. The forecast for 2015 is that there will be around 3 million tourist marks as a result of a notable investment in the travel and tour industry, one of the great examples is the Ferrari World.
Increasing population may also increase the demand for buying and renting apartments.
A significant number of new employment opportunities are expected to occur within the Emirate. This is the effect of the surplus investment made by the Government in the economic and tourist infrastructure and within the next ten years the population is expected to increase by 100%.
Between the years 2001-2003, the population increased by 16%. Despite this, the growing demand for real estate in Dubai, hotel apartments in Dubai for rent and other regions of Emirate is relatively low. You have UAE citizens only for apartments for rent in Abu Dhabi and Dubai or for purchase under 99-year lease. Therefore, the real estate sector is experiencing a notable increase in rates within the Emirate. There is an expectation of a 30% increase in some cases in the past year.
The property overview appears to be very forward looking with the current shortage in the supply of homes, offices and apartments for rent and purchase. You can buy a two-bed townhome for resale for as little as AED569.41 per square foot. This is the same thing that had happened in the early stages of Dubai's burgeoning real estate sector. With Abu Dhabi property rates still low and demand high, early Dubai property investors will have another chance to make more profit by investing in houses, offices and apartments, and if this is true, then real estate in Abu Dhabi will be the next big thing after Dubai for all real estate investors.
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