FAQ's - Dubai Real Estate Investment Information Q. Why are Dubai condos and condo hotels priced so much cheaper than other premier real estate markets in the United States and abroad? A. The Dubai real estate market is rapidly emerging, similar to Orlando before Disney world or Las Vegas before the mega hotels and casinos. With the many astonishing mega projects under way in Dubai, it is easy to see why these comparisons can be made. Q. Why are so many tourists attracted to Dubai? A. This metropolis on the Arabian Gulf draws travelers from all over the world. What attracts them to Dubai are tax-free, highest-end shopping, great weather, extraordinary accommodations, incredible restaurants and food, water and theme parks, and pristine almost sterile beaches that go on for miles. With the creation of mega projects like Sports City and Dubailand, the amount of visitors to Dubai is expected to increase significantly in the coming years, and this will help to raise Dubai property value as well. Q. How do I purchase a Dubai condo or condo hotel unit? A. Once you have contacted us, we can give you layouts of all floor plans, prices and the inventory list. When you are ready to proceed, we can send you the reservation and developer contract. We have a great relationship with the developers and we will work diligently to fulfill your request. Q. Why are most condo hotels being built in Dubailand? A. Dubailand is expected to be the top tourist destination of Dubai, consisting of 6 themed worlds, it will be almost 3 times the size of World Disney World. Condo Hotels are best suited for high tourism areas. Q. Who lives in Dubai and what languages are spoken there? A. Dubai is made up of 185 nationalities. The majority of their 3 million people come from other countries. The main languages spoken are Arabic and English. Dubai encompasses the true meaning of cultural diversity. Q. Where is Dubai located? A. It is centrally located in the Middle East across from Saudi Arabia within hours of Europe, China, North Africa and India. Its' location makes it a vacation haven for over a billion people. Q. What is the appeal for so many visitors and investors in the Dubai real estate market? A. 1. Growing Economy and Politically Stable 2. No Income Tax and Property Tax 3. Clean Crime-Free City 4. Advanced Technology and Communications System 5. Exemplary Healthcare, Education and Leisure Activities 6. Five Star Hotels, Restaurants and Beaches 7. State of the Art Sports Arenas (Tennis, Golf, Water Sports, Sand Skiing, Horse Riding and the First Indoor Ski Mountain) 8. Cosmopolitan work environment with over 185 nationalities 9. Prices are inexpensive by comparison to other similar markets around the world Dubai is a sun-filled wonderland accompanied by white sandy beaches overlooking the picturesque Arabian Sea. Q. Who is behind the emergence of Dubai? A. Sheik Mohammed bin Rashid al-Maktoum is the renowned innovative ruler who has earned international respect for his humanitarian and principles of modern development. Sheik Mohammed bin Rashid al-Maktoum is on a mission to create the world's most progressive, contemporary and luxorious city in the world. The Dubai real estate market is bound to move skyward as his vision continues to take form. Q. What is the difference between leasehold and freehold? A. At this time condo hotels in Dubai are only being sold as 99 year leaseholds which offer automatic renewal after expiration for a small fee. There is a mounting school of thought that long leases rather than freehold ownership should emerge as the preferred method of purchasing condo hotels. Leasehold is common in many countries for high-rise property. Leasehold grants the duties and obligations of the landlord or freeholder to maintain the whole property in pristine condition. However, in a few months the laws in Dubai are expected to change to allow freehold ownership, and leasehold properties can be converted to freehold. Condo hotels will still be maintained within the standards set by the developer. Q. What is the weather like in Dubai? A. Dubai enjoys year round sunshine and the climate is not only tolerable but also extremely pleasant for the majority of the year. Q. Why is Dubai real estate a good investment? A. 1. High rental rates Rental rates continue to go up. Rates last year went up anywhere from 10% to 50% depending on the property. With stable rising property value in 2005, rental yields have been moving upward as well. This attracts investors to the Dubai real estate market, while pushing those renting into buying Dubai property in order to avoid future rent hikes. 2. Low priced Compare a Dubai condo to a condo in a prosperous UK or American city and you will find that home or condo prices are around 1/3 the price. Tax-free incomes in Dubai compare more than favorably with UK and U.S. post-tax income levels, and borrowing costs are virtually the same. This large price difference clearly creates an incredible opportunity for Dubai real estate. 3. Mortgage costs are falling Local and international banks are creating more mortgage options by the day, and the result is pushing the cost of borrowing lower. If it costs less to borrow money for purchasing Dubai property then the net effect is a higher Dubai property value. 4. New federal law A new federal property law is expected pass in the next coming year to convert leasehold sections of Dubai to freehold. This will remove an area of uncertainty for investors and increase the pool of investors who would consider Dubai real estate a possible investment option. More investors in Dubai real estate will be good for prices. 5. Dubai property: Supply is short and demand is high Supply of Dubai apartments, villas, hotels and condominiums are not expected to meet up with demand for many years to come in the Dubai real estate market. The rapid expansion of Dubai as a business and trading hub and leisure destination for the Middle East is bringing in more and more non residents. 6. Dubai is becoming famous No city in the world is presently more successful at marketing itself than Dubai. The Dubai real estate market can only gain from this marketing. Foreign investors are already active buyers of local property. Dubai property has advantages as a tax haven. These are only just being recognized. 7. Is their financing available for Dubai properties? Some Dubai property developers offer financing while others do not. When available financing can range anywhere from 50% to 90% depending upon the property.   If you have any further questions, you can click here to request more info or send an email to info@sportsplazadubaisportscity.co.uk