TV reality sensation Kim Kardashian has signified interest to purchase property in Dubai after her recent visit to the city with mom Kris Jenner. Will it be a good investment for Kim? Ibtimes.com.au tries to scrutinize the property investment scenario for the Kardashians.

Awed by the outstanding sites and hospitality in the Emirates on her first trip there, Kim wants to put up a business there. Reports said Kim might be considering putting up the clothing boutique store D-A-S-H that she and her sisters own and manage or perhaps a prestigious hotel.

According to online news sources including the Emirates247.com, Kim said in an interview that she is quite smitten by Dubai. From a business perspective, is it a good investment for Kim Kardashian if she pursues her plans to buy property in the emirates state of Dubai?

According to research done by Global Property Guide (GPG), this is the best time to buy property in Dubai as prices are low. The current supply glut of residential properties in Dubai had squeezed prices down, according to GPG.

Jones Lang LaSalle expect house prices to decline by 10 percent in 2011, and around 5 percent in 2012, contrary to the government's estimates that prices may bounce back soon.

If Kim decides to purchase a property in Dubai now, "prices for apartments typically range from around US$3,700 to US$4,200, except on the very largest apartments, which are somewhat less highly priced. This compares with a range of US$6,650 to US$7,300 at the peak of the boom," said GPG.

"Overall, gross rental yields in Dubai are moderate at around 5.6 percent to 6.5 percent," according to Global Property Guide.

Another advantage in purchasing property in Dubai, which has so far promoted itself as another luxury tourist destination in the Middle East, is the very low rental tax pegged at 5 percent and relatively low transactions costs at 8 percent, added GPG.

Kardashian, who is on the verge of a divorce, can also take a look at other locations, where there are high rental yields for future property developments.

On top of the GPG list, Where buy-to-let property earns the most, the city of Lima in Peru showed yields at 10.56% and given the five star rating as a viable long term investment.

Peru and Panama: From excellent to spectacular rental yields

With economic growth estimated at 7% in 2011, the property market also stabilised, while the country's currency, the Sol, resisted inflationary gains, rental yields in Lima are still excellent, with yields on smaller apartments of over 10%, and yields of 7.3% on very large apartments (250 square metres).

The only diminishing factor in owning a rental property in Peru is the 30% flat rate tax slapped on property owners. Foreigners can freely buy properties in Peru.

Ranked second in GPG's list is the city of Panama, which according to GPG Research had generated interest from investors amidst the financial crises. This has been evident with the sprouting of apartments and stand-alone homes even in Panama City's outskirts.

Rated by Forbes.com as one of the best places to retire in 2009, Panama has drawn the attention of foreigners. Rental yields for apartments in the city had fallen from13% to an average 9.08% in end 2010, according to GPG.

Bahamas, Jordan, Kuala Lumpur: Attractive rental yields

Aside from these two Latin American countries, GPG Research showed that city of Nassau in the Bahamas and Amman City in Jordan deserved a second look from future investors looking for better yields for properties acquired in these countries.

Asian buyers are the new tenants in the island of Bahamas, joining their American and European counterparts enjoying the average 7.08% rental yields except for properties in the Abaco and Grand Bahama waterfront, according to the GPG Research.

Property sales are still high in the New Providence and Family Islands because taxes imposed as stamp duty are low averaging from 2 to 10%.

In the Middle East, the city of Amman, Jordan bested Dubai on rental property yields. While Dubai's rental yields averages 5.32%, Jordan's residential apartments' rental yields averages 8.5%, according to GPG Research.

Southeast Asia's city of Kuala Lumpur presents moderate to good rental yields at 6.93% and had a more stable political environment compared to Jakarta, Indonesia. Although Jakarta has stronger rental yields, the political stability in the long term holds back the general rating to uncertain.