According to the CEO of a leading Dubai real estate development and marketing company it has been predicted that the fast growing market of Dubai real estate is likely to improve to its top in 2015. It has been said after extensive market research and analyzing the facts about the present condition of Dubai’s real estate market that market may not suffer the dramatic pitfall as was experienced in 2008 and 2009. But even after so much encouraging assumptions one must know some basic things about real estate market in Dubai before buying one. If you’d like to learn about real estate in other sister countries to the UAE like Australia, please check the this website
Dubai is among world’s fastest growing cities due to its beneficial location as well as a number of places of tourist attractions. After realizing the fact that Dubai can not survive for long only on the basis of its oil wealth they focused on tourism to support its economy properly for better future. Due to increasing traffic of prosperous foreign tourists the hotel business and the business of real estate Dubai also flourished enormously during last few years. to find property that suits your needs you need to look deeper.
Since last few years the increasing demand of prime properties has influenced whole of the world including emirates and specially Dubai as a real boom was experienced by a number of real estate companies in Dubai during these years. This boom was expected by Dubai government because of low price and competition in its real estate market. According to various real estate experts the real estate in Dubai market is proceeding towards price hike as the real estate markets of most of the Asian countries have gone during last few years. Insufficient availability of real estate in Dubai in comparison to its demand is another reason of this price hike.
An imbalance in the demand of apartments and villas available for freehold purchase was observed by several real estate companies in Dubai due to their increasing demand and limited supply. The large number of high-rise buildings being constructed all over the city including Marina area of Dubai has adversely affected the growth of villas as they covered lesser square feet area in comparison to the apartments in high rise buildings. This made the apartments stacked on each other in 20 storey buildings more profitable than villas in Dubai. For more information please follow the best dubai real estate companies site on Facebook.
Moreover after the great global recession of 2008 and 2009 Dubai real estate market has improved its future beyond expectations. The shifting of the base of the large number of people to Dubai every month during last few years has intensely increased the demand of real estate in this city. The value of resale of completed properties and rental rates of the properties has increased considerably during these years due to increased demand of apartments and villas than their supply. During last 3 years a tremendous boost in real estate market in Dubai was observed due to sale and purchase of its properties by a large number of people.
The Gross Domestic Product of Dubai has shown noticeable improvement during these years due to considerable boost in real estate and property market of Dubai. Projects of more than $40 billion are still under construction in Dubai which can make a great effect on the economy of Dubai after completion. The rate of capital growth is expected to be more than 15% per annum in coming years. After observing the future prospects and the global economy trend of real estate market in Dubai it can be concluded that in the long run it can be profitable to own a property in Dubai now.
The first underground hotel, The World – the largest shopping mall, the tallest building and a number of other attractions are some of the features that ensure that the prices of property in Dubai in future will be sky rocket. If you are planning to buy property in Dubai as an investment or renting it even then there are great chances of capital appreciation as the rental rates are also lucrative in Dubai due to increase in tourism in this city. Today Dubai has become an investment destination for the investors in overseas properties.
So after observing these lucrative situations you should make up your mind to invest in real estate Dubai as early as possible as most of the realtors in Dubai are expecting a new real estate boom in 2015.
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