Dubai has become one of the most preferred travel destinations across the globe. This is courtesy of its attention-grabbing infrastructure and architectural wonders spread across the entire city. With more and more people from diverse backgrounds coming to Dubai seeking long-term settlement, the city has become a focal point for global culture and finance.
Due to Dubai’s appeal as a professional and holiday destination, the demand for residential property in Dubai is constantly increasing. Local authorities have started mega projects to meet the growing need for short and long-term accommodation in Dubai. This is for both residents and tourists alike. You will notice all these beautiful buildings and the luxurious lifestyle supported by all the man-made marvels in Dubai.
With the upcoming demand for accommodation, foreign investors invest in the Dubai real estate sector. This brings more options for people looking for good accommodation in Dubai, especially when travelling. Dubai hotels are available in a wide range. However, luxury in Dubai hotels could be prohibitively expensive for the general public. The cost of this high-end and spectacular infrastructure is just too high for an average person or family to buy their own apartment in Dubai if they live there, or to book a hotel if they are only visitors.
To overcome this problem, there are many rental apartments available in Dubai now which are suitable for common men. Even from an investment point of view, investors are game to put their money into these apartments as they can foresee demand doubling in the next decade. In fact, the Dubai government also encouraged investors from within and outside the country by passing the Freehold law in 2006. This allows foreign investors to lease or own property in Dubai. With this particular move, the ever-growing and vibrant real estate market of Dubai becomes more lucrative and attracts investors in large numbers.
Also, Dubai houses one of the largest construction sectors in the world which is still growing. You can imagine the size and scope of the sector because almost 25% of construction-related heavy machinery is located in Dubai. This machinery is contributing to the architectural wonders coming up in Dubai.
Now there are villas for sale in Dubai for foreign buyers as well, which were previously owned by local residents. There is now quite an impressive variety of properties for sale in Dubai including apartments furnished with the basic necessities and facilities. These apartments are not that luxurious but have been offered to allow better affordability. Villas for rent in Dubai are another logical option for a residence in Dubai. This is especially because they are cost effective and can be rented easily.