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With the middle class and also the emerging middle class owning a piece of property in a prominent city area is now seen as a status symbol.  It is this one factor that motivates him to save money.  All salaried professionals and workers now prefer to own a house, an apartment or flat to spend time after his retirement.  For some other group of people, investment in housing is seen as an investment option very similar to that of an investment in fixed deposits, stock market or insurance.

In earlier days, investors found time to buy property, hire a contractor and build a house.  Most often, if the land prices have not appreciated, then the property was rented out at a high rent to a prospective tenant and it was resold only when the land and property prices have appreciated.

These days, investors in real estate do not have the patience to build a house from the scratch.  Instead, they prefer to purchase a flat for sale in a prominent locality at current market rates.  Apartment costs are seen to appreciate in all the prominent localities and more and more people swear by the security they get in a high rise apartment complex.

If you intend to invest in a flat for sale, it is better to consider the prominent city centers or an area that is likely to emerge as a major business centre.  As is the norm in other countries, in the UAE also business spaces always fetch a premium price.

   

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Wernerjo Permalink: http://www.articlevoid.com/?action=permalink&article=54314
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