Buying in DubaiDubai may seem like one of the most unusual hotspots - in every way - of the current overseas property market. But the Middle-East's fast-growing sun, sand and shopping state is attracting a lot of investment.
A recent change in its property laws, which eases restrictions on the right of foreigners to own freehold property there, has also increased interest.
Now Dublin agency Wyse has launched a development of fully furnished apartments and townhouses in Jumeirah Village, costing from €112,000 to €415,382. A buy-to-let option, which owners can join at any time, is available, with a management fee of 15 per cent.
The studio, one and two-bedroom garden and duplex apartments and four-bedroom townhouses have been developed by The Bonnington Group, a UK/Irish company which owns the Regency chain of hotels in Dublin.
Bonnington@Jumeirah Village is between Emirates Road and Sheikh Zayed Road in Dubai, in walking distance of Dubai Sports City, Jumeirah islands and golf estates and in driving distance of beaches, the Mall of the Emirates and other Dubai developments, according to the agent. Aer Lingus has direct flights to Dubai three times a week. The units range in size from 45-60sq m (489-645sq ft) for studio apartments up to 261sq m (2,808sq m) for the four-bedroom townhouses. The development will not be completed until May 2008, with the final 50 per cent only payable on completion.
www.wyse.ie
