Dubai is one of the fastest growing cities in the world. With a population of 1.6 million people, Dubai is the largest of the seven emirates that make up the United Arab Emirates. It is also arguably the most modern Arab city on the planet.
Why has Dubai embraced progress in a region where most cling to tradition? That is a difficult question. But what we do know is that the leaders of Dubai have invested tens of billions of pounds in public works projects over the past decade. The city has come so far that oil is no longer their number one source of income. That's right! Business, tourism, and real estate are now the big money makers in Dubai.
Why buy Villas on the Golden Mile ? Until 2007, Dubai had some of the most highly sought after real estate in the world. Foreigners were literally lining up for a chance to purchase a home, villa, apartment or condo. Then the global recession hit, and real estate prices in Dubai declined. When the smoke finally cleared, prices had fallen by nearly twenty percent.
Of course, housing declines were much worse in many other cities. And the fact is that Dubai is still growing. Their real estate market will bounce back. In short, Dubai presents a unique opportunity for foreigners to make astonishing returns in a growing market. This goes double if you purchase a fixer-upper in Dubai.
Sure, it is a relatively young city with regard to real estate, but there are many bargains to be found. And trust us, fixing up a home is not nearly as difficult as it seems. More often than not, most of the work must be completed in either the bathroom or the kitchen.
The solution is simple: do the work on your own using inexpensive materials. Not cheap! We didn't say cheap. But a simple paint job, some wallpaper, affordable title or linoleum and some second-hand appliances.
That's really all it takes to redo a dingy kitchen. Really, there is no need to pour thousands of pounds into a remodeling job. It's simply a waste of money.
