Currently: 1,716,883 Listings of Properties for Sale

Dubai property market on road to recovery

Dubai property market on road to recovery

Dubai property market on road to recovery

By: Nick Marr -  Category: Dubai - Added: 2012-06-22

 

After several years of falling prices, Dubai’s property market is showing signs of improvement in early 2012. At the start of 2012, property prices showed their first quarterly rise since 2008 with investors increasingly confident about homes in the emirate.

However, the property market in Dubai may remain uncertain, as we explain here.

Demand for villas remains high, pushing up property prices in Dubai

The National reports that prices of property in Dubai have increased due to a combination of improved trade and tourism in the emirate and a ‘return of investors’ confidence’.

According to data compiled by the Economics Group at the National Bank of Abu Dhabi, average property prices in Dubai increased by 3.7 per cent in the first quarter of this year from the previous quarter.

Prices of villas in the city also continue to rise on the back of stronger demand at the same time as villa rental rates increased by around 5 per cent.  The newspaper reports that the demand for villas in established areas such as Palm Jumeirah and Arabian Ranches remains high thanks to existing tenants upgrading their accommodation to take advantage of the current favourable market rates.

This has helped push up the price of property in Dubai.  In addition, mortgage providers in the United Arab Emirates are currently offering competitive mortgage deals which have benefited buyers and boosted property sales.  Mortgage lending in the emirate rose by over a third between 2010 and 2011.

The National reports that: “Although Dubai's property market has improved in recent quarters, it might be too early to judge whether the underlying recovery trend is sustainable, given the continued supply of new properties, the European debt crisis and the global economic slowdown.

“However, the downward spiral of property prices in Dubai has clearly been arrested.”

 

Author :
Sun, sea and a strong pound
By:  -  Category: Spain - Added: 2014-12-12
Foreign buyers go back to Spain
By:  -  Category: Spain - Added: 2014-12-09
UK Stamp Duty reform could save £200m
By:  -  Category: United Kingdom - Added: 2014-12-08
Great green home energy tips
By:  -  Category: United Kingdom - Added: 2014-12-03
What the 2014 Autumn Statement could mean for you
By:  -  Category: United Kingdom - Added: 2014-12-02
Value of UK property tops £5 trillion
By:  -  Category: United Kingdom - Added: 2014-12-01
Miami property sales surge
By:  -  Category: United States - Added: 2014-11-26
US home sales up for first time since October 2013
By:  -  Category: United States - Added: 2014-11-24
French property tax "no cause for concern"
By:  -  Category: France - Added: 2014-11-21
Home sales edge higher in Canada
By:  -  Category: Canada - Added: 2014-11-19
UK lending caps weigh on seasonal slowdown
By:  -  Category: United Kingdom - Added: 2014-11-17
1 in 5 Brits would pay more for faster broadband
By:  -  Category: United Kingdom - Added: 2014-11-03
Cambridge leads UK house price rise
By:  -  Category: United Kingdom - Added: 2014-10-27
UK property sales cooling down?
By:  -  Category: United Kingdom - Added: 2014-10-03