Business: Investing in Buying a Villa in Dubai
Dubai is a great financial and holiday centre and buying property here is agood investment, particularly when stay rules are greatly loberalised
Dubai has diversified from a fishing village at the turn of the last century to the present day mega city. The city in bid to attract the best and the richest has taken to construction of villas as a fish to water. Luxury villas are the new mantra to attract the rich and well heeled to Dubai. The idea is to give a grand life style to the visitor or an expat worker. The charm of owning your own villa with a private swimming pool and garage id definitely greatly desired and Dubai caters to this in a big way.
Villas in Dubai
The villas in Dubai can either be bought as an investment or hired during your holiday in Dubai. The latest architectural designs are formulated for these villas and owning one can definitely add an extra page to your life style. They are also good investment for your money. A lot of people prefer leasing the villas in case they are not sure about buying them.
As the rulers of Dubai have positioned it as a holiday get away you could if you have the money rent a villa. There are many companies in Dubai who can help you find a villa for yourself during a planned holiday in Dubai. If you are coming with your family you will have the chance of all staying together than in different rooms as in hotels. With the present economic scenario you can work out a good deal and that may not be too expensive.
Villas in Dubai cover a wide spectrum of costs .The prices vary from their size to location.Dubai in fact is dotted with Villas. Unlike apartments which are finding it difficult to sell themselves the villas are comparatively better off. Dubai boasts of posh villas at the Marina which are a statement of style and reasonably pricey. Similarly villas at Jumeriah which are a few minutes from the Jumeriah beach from Sheikh Zayed Road are also quite costly and only the rich stay here. You can also rent or lease a villa at the exclusive Palm Island. This is the high end of the spectrum of social life and celebrities including film stars, sportspersons and eminent persons could be your neighbors.
. Staying in a villa on the palm means that Atlantis Dubai one of the top end hotel resorts is nearby and you can always visit it for leisure activities. Villas in Dubai can be a statement of your life’s intent. In fact with the down turn of real-estate in Dubai some of the up market villas are available for lot less than the original price and can be good investment.
However there is a dark lining to the silver cloud. Dubai does not allow landlords or tenants to share their villas with another family. The general concept in Dubai is one family per villa and the authorities will not let you break that. In case you share you villa with another family then you are open to fine that could go up to AED 50000 one $130000.Thus breaking this law is not advisable. This law is perhaps rooted in the Islamic life of Dubai and has put off a lot of customers.
The matter may not end with a fine as Hussain Nasser Lootah, Dubai Municipality’s director general, in a statement is attributed to having said that a fine could also be followed by legal action as Dubai frowns on villa sharing.
All photos by me