Britons prefer Dubai as their second*home because it is one of the fastest emerging cities in the world. According to recent research, more than 100,000 Britons have purchased homes in Dubai since 2002.
British real estate investors are quite interested in investing in Dubai real estate market because of its tax-free status, brilliant services, enviable lifestyle and more importantly low crime rate.
Sunny weather all year long is also the pivotal factor behind popularity of Dubai real estate among British investors. It is worth mentioning in this regard that in UK chilly and damp conditions is the order of the day especially during winters.
Most of the UK residents prefer living in individual houses [attached or detached] in Dubai. When buying house in Dubai, British investors also look out for a small garden where they can organize tea party and children can play a bit. According to media reports, it doesn't really matter for British people whether their house is situated in a beach front or a desert.
Dubai real estate market is tailor made for real estate investors who possesses disposable income. This is because of the simple reason that there is an increase of around 15 to 20 per cent in terms of capital appreciation in Dubai. If experts are to be believed, the overseas home market of Dubai has matured tremendously. Few years back, Dubai was widely been regarded as the ideal Investment for speculators interested in getting fast profit.
This is not the case anymore because current market trend are only suited to those investors who are interested in owning a home or investors who want to cash steady investment returns through resale market and high rental yields on finished properties. Rental yields in UK are around three to four per cent annually, which is quite low as compared to the seven to ten per cent of Dubai. Taking this into account, there is hardly a surprise that most of the Britons prefer Dubai as their second home.
This trend of Britons preferring Dubai as their second home is going to continue in the coming years especially after the introduction of Freehold Property Law in 2006. Freehold Property Law allows non-GCC citizens the right to buy freehold properties in designated areas of Dubai.