Archive for February, 2010
Is Dubai Getting Over-stretched?
Is Dubai Getting Over-stretched?
Dubai’s bullish economy might be creating ripples across the world but there is a suspicion among some pundits that it might get overstretched in the longer run in its attempt of gaining invisibility. The policy of developing worldclass infrastructure to entice investors entrepreneurs and tourists might be proving successful as of today but it has also resulted into soaring real estate rates and city congestion in the recent times. This may result into some highly expensive office and living accommodations in a few years from now. Dubai hotels and Dubai apartments a key area for the local tourism industry and economy might get hit hard due to sharp price hikes in the future.
Dubai’s office blocks are quoted as the most expensive ones across the Middle East and the scenario won’t change until many upcoming projects got fully commissioned. There is a growing concern that many existing and prospective buyers might decide to look out for cheaper alternatives elsewhere within the UAE and outside both. Many commuters working in Dubai have to spend up to three hours making a round trip from Sharjah. It’s simply out of question for them to reside in a lavishly expensive Dubai. To add to their woes the public transport system and routes are highly overloaded. Many steps initiated by the city planners to minimize road congestion haven’t produced results until today.
The desire of having the tallest and largest buildings and the fastest growing economy on its soil has led Dubai into a construction mania. Up to 25 of all construction cranes in the world are currently stationed at Dubai. At least fifty of them are employed at Burj Dubai alone to help it rise atop the Arabian sky as the world’s tallest building. Burj Al Arab the pride of Dubai hotels is already known to be the world’s largest hotel. There are numerous projects either under way or in the pipeline that could leave even some leading cities of the West dwarfed. This might highly raise Dubai’s real estate rates however driving away many prospective buyers in a few years from now.
According to a recently issued report by the Middle East Economic Digest the cost of Dubai’s planned and under way projects is expected to total around 310 billion over the next decade. Up to 230 billion of this capital is expected to go in the property sector alone indicating at the frenzy about to be unleashed therein. Prices might naturally fall down as a result once many of the underway construction projects got completed in the longer period. This might tilt the demandsupply ratio in the favor of the latter making Dubai to be the cheapest destination across the Middle East say about in a decade from now. You might have to cope with some of the cheapest office blocks Dubai apartments and hotels as a result in the longer run. Dubai apartments are greatly admired across the Middle East for their class aura and style and are always in a great demand. Any future fall down in their rates could severely affect the emirate’s economy as well and that a major concern.
Dubai is a city of freetrade world famous landmarks and soaring dreams. The hospitality extended by Dubai hotels and apartments is universally acclaimed. Investors travelers and entrepreneurs from across the globe are lining up to be part of its success story. Any misadventure by its own planners could result into serious concerns in the future however and that’s why some kind of regulation should be placed from within the policymaking elite itself.
About the writer: Pankaj Mohan is an India based freelance writer who often writes on behalf of DubaiFurnishedApartments.com. Please visit this site to get more information on selfcatering Dubai apartments and Dubai hotels.
Is Cost Of Living High In Turkey?
Is Cost Of Living High In Turkey?
Turkey has attracted people across the globe as one of the hottest tourist destinations and a well kept secret. It has stunning beaches and mountain retreats which make it very attractive to visitors and holidaymakers. Agricultural and industrial trade sectors of Turkey are well developed to provide the residents with a good standard of living. There are popular historical landmarks like Topkapi Palace Pamukkale Aphrodisias and the beautiful city of Troy all working hard to attract the tourist. Flourishing trade and a greater amount of economic awareness among the people have made the real estate market of Turkey one of the best places to invest in.
Turkey is fortunate in that it can provide all the basics amenities required for a good standard of living at very reasonable cost. Turkey is well known for its agriculture and enjoys an abundance of fresh locally grown produce. Fruit vegetables and fish are available in local markets at a much lower price than at home. Local shops are well supplied and are often cheaper than the large supermarkets or departmental stores. Eating out is an inexpensive affair in Turkey! Some people even think that cooking at home is more expensive than eating out. However imported alcohol wines and beer can be more costly but you can easily get hold of some amazing local beers and wines at much a cheaper price and definitely worth a try!
One of the major reasons why cost of living is lower in Turkey is taxation. The annual tax people have to pay is low in Turkey property owners have an annual property tax that is based on the acknowledged value of their land or property. The rate for land is 0.20.3 and for residential buildings it is 0.1. As in many countries you also have to pay income tax on any income earned in Turkey whether from a rental property or investments.
Trade professionals advise to invest in Turkey property because compared to other neighbouring regions Turkey can provide you with a great standard of living at the lowest price. Investment in Turkey properties is a wise move for the overseas investors luxurious villas and apartments with fantastic views can easily be found in fantastic locations and encourage you to make a wise investment. If you are planning to rent an apartment in Turkey then you can negotiate the price with the real estate agency. Apartments villas studios and penthouses are both available and affordable in Turkey.
Healthcare is also inexpensive in Turkey. Most of the regions in Turkey have well equipped private hospitals. Doctors and staff are well trained and speak in English to avoid misunderstanding and confusion. As cosmetic surgery is quite affordable here Turkey is gaining more and more prominence in this field. Other top class medical facilities like fertility and cosmetic dentistry are also quite affordable in Turkey. Using public transport in Turkey is cheap and involves less hassle than owning your own car.
To conclude cost of living is inexpensive and quite affordable in Turkey. So invest in homes in Turkey and live life to its fullest!
About the writer: Azure Investment Property is offering exclusive luxury home in Turkey. Investment property in Turkey is one of the best options available at hand. For more properties near Cyprus region call us at 0845 070 4327.
Investment In Noida-a Worthwhile Option
Investment In Noida-a Worthwhile Option
With more and more investments pouring in for the IT ITeS sector the demand for residential properties in Noida is rising. The investments are largely coming from Delhi and other parts of NCR region.
Noida has an exceptional demand for residential units besides considerable demand for commercial and retail properties. The prime residential areas in NOIDA are Sector 14 15 27 28 29 and 37. Most of the buyers are buying residential properties as a second home or for investment purpose.
Prices for residential properties in Noida have stabilized but some sectors show a visible fall in prices. According to researches there has been a decline in plot capital values in the last few months to around 2040 across most sectors like 11 12 19 20 and 22. The loan conditions are tough so the properties are not much appreciating. However prime sectors such as Sector 14A and 15A continues to command high plot values at Rs 740001 60000/sq yard.
The demand for single floors has gone down because apartments are more preferred as they are relatively safe and secure as well as offers better infrastructure and other facilities like power back ups maintenance etc reveals Mohit Jain Noida Real Estate Agent.
Moreover as the market is going slow nowadays this can be the best time to invest in. Expressway and surrounding areas are the most sought after locations for investment purpose in Noida. Industry expert believes that within 12 years there is going to be tremendous improvement in the infrastructure there. Expected Foreign Direct Investment of 30000 crores in the coming years is going to be the icing on cake.
About the writer: George Gonigal provides you the best and latest information on Noida Builders If you want to Buy Apartments in Noida he suggests you log on to magicbricks.com
