This cannot be narrowed down to one particular factor. A plethora of factors exist namely:
- a) The liberalization of the real estate sector – ex-pats can now own property
b) High tax-free yields on freehold property rental
c) Globalization and its effects on property prices in metropolitan cities worldwide
d) Favorable interest rate environment
e) Mortgages & homeowner finance available
f) Granting of “permanent” residency upon purchase of freehold properties
g) Great Value – Real estate land & apartment valuations are cheap compared to international prices
h) Conducive lifestyle: safe, tax haven, secondary and tertiary home for international buyers
i) Dubai’s robust economic growth p.a.(GDP)
j) Dubai’s robust population growth p.a.
k) Large mid-income population bracket with high disposable income
l) Dubai is the regional entrepôt & tourism center
m) UAE is an open, welcoming & tolerant state with investor-friendly business policies