Over the years, there have been a number of positive changes in Dubai’s property sector. One of the most important developments was undoubtedly the 2002 ruling that allowed foreign ownership of properties in freehold areas of Dubai. This was followed by the enactment of a law that made escrow accounts compulsory for those Dubai developers selling off-plan properties. These accounts provided significant security to buyers, instilling in them greater confidence to invest in Dubai properties.
In consequence, Dubai’s property sector matured rapidly. Some signs of a healthy and mature real estate market are stability in property prices, increased transparency in real estate laws, protection of investor’s rights and greater competition among developers. You can also look for https://www.dubaicreekliving.ae/holiday-villas/ to know more about holiday villas and Dubai vacation rentals.
With all this being implemented, Dubai’s real estate sector was bound to attract a substantial amount of investment. Dubai has become well known all over the world for constantly introducing world class projects that offer unique opportunities, strong mass appeal, and high returns with a mixture of excitement and enthusiasm.
Efforts by the Government of Dubai to establish a regulatory framework through Real Estate Regulatory Authority and Dubai Land Authority that addresses company laws, financial laws and real estate laws has given both private and institutional investors greater confidence in investing in Dubai.