What laws will protect foreign investors? Andrew Brett sheds some light onDubai I'm thinking of buying an investment home in Dubai but is there a danger of a new ruler in the future abolishing the 2002 decree that allowed non-nationals freehold property ownership? Also what makes Dubai a better investment than other locations nearer home?

The property market's success in Dubai has been fuelled by the stability that the ruler Sheikh Mohammed bin Rashid Maktoum has introduced by way of the freehold law, and it would be inconceivable to reverse that law especially as the land registry departments have been set up. Sheikh Mohammed is relatively young and his sons are very like minded in terms of their plans for Dubai.

The trends in Dubai are also very positive, with tourism "gures expected to reach up to 20 million by 2015. A combination of all-year sunshine, miles of sandy beaches and two million square feet of tax-free shopping have added to the success of the tourist industry here. And the country is building the world's largest airport to accommodate this surge in tourism.

The population has also grown from 970,000 people to over 1.4 million in three years, and it's estimated that by 2010 there will be between three and five million people living there, including the huge ex-pat community of professionals constantly in need of quality accommodation. Added to this, the purchasing markets and investor returns have been excellent in the last few years. The fact that demand outstrips supply for accommodation leads naturally to outstanding guarantees of high rental returns and capital appreciation. Rental returns of between 12% and 15% are the norm, with capital appreciation running at anywhere between 40%-80% per year.

>> Andrew Brett is director of Larionovo, overseas property specialists in Dubai, Spain, Hungary, Portugal, Morocco, Bulgaria, Poland & India. LoCall 1890 252 138; www. larionovo. com Q