You could compare real estate to a game. Not the kind of game you might play on the estate court but one that involves professional study of property and the intrinsic values attached to the property, ie: its price, what it yields over time and the mortgage repayments associated with it.
Below is a breakdown on the top 5 cities to buy property in the Middle East considering a number of crucial factors in the real estate market such as:
the purpose of buying the property.
whether or not the property can be rented.
Is it possible to buy low and sell high.
1. Riyadh, Saudi Arabia
Known for its eye-catching beauty, Riyadh or better known as ‘The Gardens’ is one charming place that you would count yourself lucky to own a property. There are almost countless interesting facts about this city that you will probably fall in love with.
Moreover, foreigners are allowed to own property or obtain leases on approval by the licensing authority. You can also purchase private land, develop it and construct a structure of your choice on it at your own pleasure.
Obtaining the property is easy, all you need is to find a real estate that would best cater for your needs and take you through the five procedures of registering property under your name, a process that takes up to as few days as just a fortnight. Yearning to own a property in Saudi Arabia?
2. Cairo, Egypt
Cairo is the eminent capital city of Egypt, also known as the New Cairo. In the recent past the city has seen a lot of unrest among its dwellers following the change in Egypt’s government.
Consequently this has impacted the real estate market positively and negatively in equal measures. The change in government has seen the military suspend construction of new structures in the city and a vicious crackdown on the Muslim brotherhood, a move that specialists speculated would hit on the real estate market hard.
However, the reverse is true as numerous investors are selling their property, more so foreigners. The overall property market is surprisingly booming and the price of houses is on a constant rise. If you are looking at buying and selling property, Cairo is the city to consider.
3. Doha, Qatar
Doha is currently a blossoming city in the scorching sun in the booming economy of Qatar. Doha which was initially a far cry from the backwater has consistently undergone a steady economic growth following the drilling of its rich oil wells over the past few decades.
Today almost every investor wants a piece of the real estate cake in Qatar. All you need to buy property in Doha is clearance and permission from the relevant authority with regard to the Qatar constitution.
In Doha, buying property is not a big deal, besides, there’s a consistently increasing demand for rental houses, the local governments support investments and the locals are very friendly.
4. Beirut, Lebanon
Buying property in Beirut can be a tall order for many. Finding your property of choice may not be a walk in the park unless you find the right real estate company that will always be at your service and give you the worth of your money.
However, there are thousands of properties in in Beirut of different calibre that is available for sale all through the year. In the recent past, real estate experts have expounded that property prices have gone down making this the perfect time for investors to buy property.
If you are serious about buying and selling property, without a grain of salt Beirut City is work giving a sober consideration?
5. Muscat, Oman
Do you love Villas?
Well if you do and would love to own one in the Middle East then Muscat, Oman is definitely the city to consider.
Muscat is a leading residential and economic hub in Oman with an interesting cutting-edge technology and professionalism. With almost as many real estate companies as the villas themselves finding the property is not a big deal.
The property is available for sale almost throughout the city. If you would like to rent out the villa or a portion of it, no worries, the local government allows for that and there are numerous agencies that can help you with the management, collection of rent and maintenance of the villa, it’s all there.
There is immense wealth in property and there is a countless number of people itching to invest their money buying property in the Middle East. If you happen to be one of them don’t gamble with your money, there are many cities in the Middle East in which you can own property, consider the above cities and the associated information and you can be sure to access the property of your choice with great ease.