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Why Dubai?
- New freehold property law passed by the Dubai government on 14 March 2006 is now increasing property values and attracting more international investment.
- Property inflation is expected to rise further in the next few years. Property inflation for the last 3 years was over 46% with many property experts anticipating a rise to 20% per annum over the next few years. Signature Villa prices increased by almost 100% during 2007 as the developer Nakheel started its handover programme. Palm Signature Villas have increased in value by over 25% already in 2008.
- Many believe Dubai property is currently 50% below international market values. Residential building costs per sq.ft. in Dubai are currently between 30% and 45% of Irish costs.
- The Dubai currency, The Dirham, is currently linked to the U.S. Dollar. However, it is anticipated that this link will be severed in 2008 resulting in a revaluation of the Dirham, and further property appreciation of 5% to 10%.
- Dubai has the fastest growing population in the world. The current population of 1,670,000 is growing at 10% per annum and is set to rise to 3,000,000 by 2010.
- Tourism figures are predicted to more than double from a current figure of 6,500,000 to 15,000,000 by 2010.
- Tax-free environment: no VAT, property, wealth, inheritance, capital gains or income taxes apply here.
- Luxurious modern and contemporary lifestyle with a cosmopolitan community, where everyone speaks English.
- Crime free environment: one of the safest cities in the world.
- 360 days of sunshine (it rains only 5 or 6 days per year)
- Reasonably low cost of living (approx. 18% to 20% below Ireland)
- Dubai’s economy set to grow by 12% to 15% this year.
- No Tax, VAT or stamp duty on property purchase, and nominal legal costs.
- Etihad fly from Dublin to Abu Dhabi daily, fares are approximately €550 return, including fuel surcharge and Taxes etc. Flight time 7 hours.
- Convenient air connections: 113 airlines connect directly to over 195 destinations.
- Dubai is the most liberal of The Emirate States. There are no dress restrictions for women and alcohol is freely available.
- Tax free shopping is attracting more and more people to Dubai where opulent hotels and luxurious surroundings prevail. The desert kingdom offers sandy beaches, endless shopping malls, gold markets and luxurious hotels for those who are not afraid to spend.
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