Dubai is playing as front position player among all other UAE property sectors such as Abu Dhabi real estate and the like. As a first Emirate offering the opportunity to buy properties to immigrants is capitalizing on a brand new source of overseas investments. Some experts have the clear opinions about the Abu Dhabi real estate that as they are seeing the increasing demand of apartments in Abu Dhabi for purchase and rent, Abu Dhabi may become next Dubai in coming couple of years.
Since last two years Ajman, Ras Al Khaimah and Abu Dhabi real estate have been the great focus of neighboring Emirates. Abu Dhabi real estate has been getting more importance as it is the capital of UAE and the best part is the wealthiest Emirate. As economy is going up and investor welcoming-policies are being implemented for Abu Dhabi Real estate, it will be a very promising and attractive prospect for both industry and tourism. Some of these policies which will boom up the demand of Apartments in Abu Dhabi for rent and purchase are:
Increasing expenditure on Abu Dhabi real estate by governmentCurrently the Abu Dhabi government is spending over $ 6 billion for development and expanding facilities at Abu Dhabi international airport. The forecast for the year 2015 is that there will be around 3 million tourist mark as an outcome of noteworthy investment into the travel and tour industry, one of the big examples is the Ferrari World.
Increase in population can also raise the demands for purchasing and renting Apartments in Abu Dhabi The significant numbers of new employment opportunities have been expected to be produced within the Emirate. This is the effect of the surplus investment done by the Government on economic and tourist infrastructure and within the next ten years it is expected that the population will be increased by 100 %.
Between years 2001-2003 the population increased by 16%. In spite of this the rising demand for Dubai, Abu Dhabi real estate and other regions of Emirate is relatively low. It has only in the just allowed non UAE nationals for apartments on rent in Abu Dhabi and Dubai or for purchase on 99 year lease basis. Therefore, Abu Dhabi real estate is seeing a noteworthy increase in rates within Emirate. There is an expectation of 30% raise in some cases within the last year.
The overall outlook of Abu Dhabi real estate seems to be very prospecting with current scarcity in supply of homes, offices and apartments in Abu Dhabi for rent and purchase. A two bed townhouse in Abu Dhabi can be purchased on resale from as little as AED 569.41 per sq. foot. This is the same that had happened in the early stages of the booming Dubai real estate sector. With rates for Abu Dhabi real estate still low and high demand early investors of Dubai property will get another opportunity to build more profits by investing in homes, offices and apartments in Abu Dhabi and if this is true, then Abu Dhabi real estate will be next big thing after Dubai for all real estate investors.