Do you believe you should find property for sale in abu dhabi? Find out why it's such a good place to put your money.
Abu Dhabi is the capital and the UAE's second largest city.
With a total size of 67,340 square kilometers, the emirate of Abu Dhabi, of which the city is the capital, is the largest in the UAE. It covers more than 85% of the country's land and contains the majority of the country's oil reserves. Its population, which is quickly increasing, was expected to be 1.5 million in 2010.
With a rising economy, strong rental returns, and low taxation rates on rental revenue, Abu Dhabi is considered one of the greatest areas to invest in real estate in the Middle East.
According to government data, it attracted AED 121 billion ($33 billion) in foreign investment from 2007 to 2011, and it has ambitious goals to become a leading global financial hub and tourism destination by 2030. Expatriates can own freehold properties in particular government-designated ownership areas.
It provides a high level of living for its citizens and is a popular tourist attraction. This makes it an excellent spot to invest in real estate for both investors and those seeking a comfortable home.
Property demand in Abu Dhabi has been steadily increasing over the last few years, making now an excellent time to invest. Last year, the residential sector had substantial growth, and several new projects are scheduled to be completed over the following two years.
Expats wishing to work in Abu Dhabi are expected to be more interested as a result of the government's visa modifications. This will increase the number of options available to investors who wish to rent out or sell their properties once they are finished.
Foreign ownership of property in Abu Dhabi is now unrestricted, though there is speculation that this may change in the future. For the time being, though, anyone from anywhere can purchase property here without difficulty.
The location of the property.
Foreigners can apply for a 30-year lease for residential units, which can be renewed for another 30 years, or they can apply for freehold ownership, which is available to non-nationals who want to buy property in certain regions such as Al Raha Beach and Yas Island.
The emirate's economy has traditionally been based on oil extraction, but it is currently diversifying into other sectors including as real estate and tourism.
Despite the fact that expat employment prospects are restricted, many are drawn to Abu Dhabi because of its high incomes, low tax rates, and superb housing.
