The recent changes in the law have made property in Abu Dhabi a hot property buying ground literally. Although many real estate experts had actually predicted that the changes would come, there was much speculation. However, the changes mean that real estate in Abu Dhabi will have the prices soaring. Many are predicting that the value will go up to GBP 30 billion in a couple of years!
The location of Abu Dhabi is such that the value of property there increases. Located near Dubai and situated at a strategic place, close to the Dubai airport, the harbor and the Jebel Ali free zone, Abu Dhabi is a great place for investing in real estate. With the prices of rented property rising like anything in Dubai, there was much concern about how Dubai would accommodate the enormous amount of people coming in. It was slowly becoming a case of great demand and low supply. But the solution lies in the inclusion of Abu Dhabi in the prospect.
The rising prices of real estate in Dubai makes Abu Dhabi a great option for investors interested in real estate.
For many people who were unable to invest in real estate in Dubai need not to worry now because Abu Dhabi has arrived in a big way. Abu Dhabi real estate offers you a lot and that too at a great price. If you missed Dubai, you should not miss the opportunity of getting hold of real estate in Abu Dhabi. It offers you a lot and that too, at a great price and it is pitted to be the next Dubai. However, you can only purchase apartments in Abu Dhabi on a fifty year or a ninety nine year lease.
Since the law has been passed very recently by Sheikh Khalifa bin Zayed Al Nahyan, one cannot be assured of the kind of reception that it will get in the United Arab Emirates. But despite being unaware of the kind of reactions, one can say that the ones in the business are already gearing up to buy the apartments that have been designed keeping in mind the investors. A modification in the law that will enable interested investors to get ownership of land on lease is not too far away, if recent trends are taken into account.
Al Raha is the only example of such a development already in existence - though the first phase of this development is already sold out and every unit was bought by local Emiratis. Significant local and international investors have been waiting in the wings for the new property ownership legislation to be implemented. Now they have been given the green light there are already solid plans in place to build massive accommodation complexes incorporating schooling, private health clinics, equestrian centers, polo centers, hotels and spas and there are already many expatriates lining up to buy their place in the next international property market to boom.
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