subject: Terence Wright Review On Dubai Investments [print this page] Dubai has seen a large number of investors over recent years mainly focusing on the property and rental market, however, new and exciting opportunites are now available with regards to Car Park investments in Dubai. Between 2008 to 2009 Car Park prices increased by 20% at a time where everything else was falling.
The researchers at Terence Wright Spain have discovered that Dubai is where the smart money is going from some of the major investment groups. Dubai is classed as a Central Business District with Colliers International and although it ranks 49th out of 50 districts on the monthly parking average, it sits at position 12 with regards to the daily rate. This difference is so large that there is enough room for the monthly average to increase which it is currently doing.
As Dubai is experiencing a higher demand for car parking spaces it is therefore able to offer a higher rental return for 5 years and more along with capital appreciation based on actual inflation. There is also the security that the investors income and capital is protected by assets being placed in trust should anything fail.
The team at Terry Wright Spain have seen that some investors (mainly UK based) seem to have a perception that Dubai has totally collapsed and are worried that buildings will not get built or completed. In certain aspects this may be the case with regards to the residential market and commercial units in the non trade free zones as investors who were looking to buy and sell on before completion rather than keep the asset may find themselves waiting longer than expected to make a return on their investment..
Compared to many other countries, car parking in Dubai is rather different, there is hardly any "Pay and Display" car parks and the mentality is not the same as to park your car 10 minutes away and have to walk to your work place in 40 degree heat.
Major changes have happened over the years in Dubai for the better which has put a carpet ban on most developments as audits are being carried out by Dubai's Real Estate Regulatory Authority (RERA). New payment schedules have also been agreed between clients and developers and measures have been taken to make sure developments in Dubai will be finished to provide extra security to any investment purchase.
Car Park Investments in Dubai are now turning out to be serious business and are a great cash generator to any investor. The investment is very simple, non complicated and every pre-caution has been taken to protect an investor's income and capital which is why certain companies have invested millions into these projects for their clients.
The team at Terence Wright has found several ways an investor can benefit from purchasing a car park space in Dubai such as using it for personal use or renting it out to others.
Finding a parking space in busy city centres is time consuming and expensive. By purchasing a car park space investors not only own an asset that will grow in value but they can also benefit from the freedom to be able to use it when needed.
This solution lends itself perfectly to the leisure market, targeting those visitors seeking parking spaces whilst out for the day shopping, seeing the sights and local attractions or perhaps even attending city centre events.
by: Javier
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