Holiday Lettings news - Dubai market holds 'unbelievable' opportunities

Dubai market holds 'unbelievable' opportunities

The buy-to-let property market in Dubai in the United Arab Emirates promises fantastic rental returns, Emirate Ventures has said.

The owner of the real estate company, Siddeek Talati, explained that because the market it relatively new it is a simple place to invest.

He added that the "unbelievable" yields in the city will be spurred on even further by business and tourism from the Dubailand resort, which will act to accelerate the market even further.

Recently released figures from the Dubai Property Exhibition showed Dubai to be the fastest growing city in the world. It has had a GDP of 24 per cent in the last four years.

"There are a lot of professional investors who are looking for entire floors or entire buildings to purchase; but the majority of the people that we deal with are amateur investors looking for a single property," Mr Talati continued.

However, he warned that investors must be cautious when investing now, before red tape measures are introduced to "regulate" market procedures.

Around 250,000 people moved to the city to live and work in 2005, with 15 million visitors per year expected by 2010.

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