Dubai rapidly becoming world’s fastest up-and-coming city

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by Gill Montia

Dubai has rapidly becoming one of the world’s fastest up-and-coming cities due to the benefits it offers to foreign investors.

The economic boom that has occurred in the United Arab Emirates since 2002 has been obvious in the Dubai property market. Over 100,000 Britons have invested there since 2003. According to Trade Arabia, traditionally the most popular locations with second-home buyers and British investors are Spain and France but Dubai is beginning to rival them.

According to Dubai Properties, Dubai is attractive due to its tax-free status, excellent facilities and low crime rate. In addition, the hot weather is a bonus when you take into account the UK winters.

Currently, rental yields in the Dubai property market are between 7% and 10%, compared to 3% to 4% annually in the UK. The market is currently believed to favour people looking to own a home abroad and receive steady returns on their investment.