Dubai population increasing at 22% a year

Posted on: July 30, 2007

Written by Select Property

Nearly 300,000 people are being added each year to Dubai's population of 1.3 million.

Immigration officials confirmed on the weekend they are issuing 800 residency and employment visas a day.

On the present growth rate Dubai, the second largest UAE emirate, will double its current population by 2011.

Dubai is undergoing a phenomenal, and rapid, transformation from a sleepy port state to probably the most energised and dynamic region in the world. Hundreds of thousands of apartments and villas are under construction, most snapped up off-the-plan long before construction even commences.

Property prices have boomed. So too have rents, with authorities moving recently to cap increases at 15% per annum.

Despite the heady propery boom, prices and rents are unlikely to dip markedly whilst the population growth continues.