The United Arab Emirates are home to thousands of expats. Contrary to popular belief, the United Arab Emirates is more modern and tolerant than most Middle Eastern countries. People of all ages are able to settle in without much culture shock. This wealthy place offers everyone an unique experience, in terms of culture and lifestyle, infrastructure, educational opportunities, career options, and nightlife, regardless of age, gender, and nationality.

The real estate market has been undergoing a lot fluctuation in the past 20 years, despite the massive influx of immigrants. Previously, foreigners were subject to several restrictions that prevented them from owning property in DUBAI.

The situation has changed thankfully in 2002, with the introduction in Dubai of the Freehold Decree. Foreigners can now purchase property in a number of new developments. This statute was designed to encourage international investment, and make the Emirate a hotspot in the world. The law allows outsiders to purchase, rent, and lease properties at their discretion.

The news was welcomed by expats living in Dubai in rented properties. They could now gain financial security, and also strengthen their roots in Dubai. They would also no longer be subjected to ludicrous and unjustified rental increases set by unscrupulous landowners.

Short-term commitment

Some expats are not here for the long haul. They take on long-term assignments in the Emirates for a few years, and then return to their home country once the contract ends. Apartments for rent in Dubai for such people is the better option even if they can afford a down payment or are eligible for a mortgage. Many companies in Dubai try to lure expat managers to their company by paying for their rent.

In Dubai, the tenant is usually required to sign an annual contract. Rent cannot be renegotiated after this point. The tenant or landlord can terminate the contract if the payment or property is not as agreed. The lease can be extended with new conditions if both the landlord and the tenants are willing (usually with a large increase in rent).

Easy relocation

Dubai is a city of new construction. Many foreigners move to newly constructed areas or buildings as soon as they are ready for occupancy. This is only possible if you rent an apartment.

It is a good idea for you to stay in the area at least for a few weeks before investing. You can end your contract if you do not like the area, or if you notice problems with the property. Once you've made a purchase there isn’t much that you can do, except perhaps look for another buyer.

Absence of Risk

Dubai's real estate market has been volatile to say the least. Many foreigners who bought property in the first freehold developments got a great deal. However, many lost a lot of money when the projects that they invested their money in were abandoned or construction was put off for years. Although the situation has changed, it is impossible to predict if the same thing will happen again. Investors in real estate need to be aware of their risks in case the market fluctuates.

Better liquidity

You will be required to pay your monthly rent and a security deposit. You can cancel your contract if you are having financial difficulties and receive a large part of your security deposit (though this could take a few days). You are not required to pay any further rent in this situation.