Over 100,000 UK Investors have bought property in Dubai since 2002
The economic boom that is taking place in the United Arab Emirates since 2002 has been particularly evident in the Dubai property market, with over 100,000 British people investing there in the past four years, reports claim.
Dubai has swiftly become one of the world's fastest-emerging cities owing to the benefits it offers to foreign investors.
Spain and France are traditionally the most popular destinations with British investors and second-home buyers, accounting for 35 and 24 per cent of the market respectively, but the Dubai property market is beginning to compete with them, Trade Arabia reports.
"British investors are keen to invest in Dubai because of its tax-free status, low crime rate, excellent services and enviable lifestyle," said Fahad Al Gergawi, director of international relations for Dubai Properties.
"The sunny weather, of course, is another favourable factor in the equation, particularly when you take into account winters in the UK."
The market is currently believed to favour people looking to own a home abroad and receive steady returns on their investment.
Rental yields in the Dubai property market are between seven and ten per cent at present, compared to three to four per cent annually in the UK.
Anthony writes for Analans End 3 End, a Dubai property portal with both news and properties for sale.
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