June 22nd, 2013

06/22/2013

 
Factors Behind Dynamic Recovery of Dubai Real Estate Sector in 2012


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Following the global economic crunch of 2008, Dubai property sector returned on its feet in 2012. And so the year has been named since the year of dynamic recovery for Dubai's economy. Although only higher end areas in Dubai experienced price stabilization the collective performance of the location signalled a powerful growth.

Dynamic recovery of Dubai property sector in 2012 has astonished the analysts. These analysts think that the accessibility to mortgages, high rental yields, mounting foreign investors' confidence and regulatory framework enforced by RERA are a few of the factors that gave a lift to Dubai property plus they anticipated better times in 2013.

Let's discuss some facets that played an important role in the recovery of Dubai realty sector.

Restored faith of investors in Dubai property sector
Dubai housing market witnessed restoring confidence of investors in 2012. It happened because numerous high end development projects were announced in the posh regions of Dubai such as for example Dubai Marina, Business Bay, Downtown Dubai and JLT. Seeing the interest of local and international property investors, it may be said that the continuing future of Dubai property sector is very bright. Because the developers are carrying out a long term vision to build up residential and commercial property project, growth in rent and sale prices of Dubai properties has additionally been noticed.



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In the offing Construction salvation
Numerous in the offing investment opportunities, like Dubai Marina apartments, Business Bay offices for rent, villas, departmental stores and other residential and commercial properties, were introduced in 2012. Oversupply was a significant issue hampering recovery of Dubai property sector within the last year however the Dubai government took immediate steps to mitigate this problem. In order to invite customers back again to the region, numerous property projects were cancelled, halted and delayed and the entire quality of the investment opportunities was also improved. The recovery has been selective in 2012 and focused only on top projects and locations.

Better Transparency
It is rightly believed that Dubai property sector wont stabilise unless foreign investors go back to the market. Dubai was one of the most transparent property markets in the UAE however it lagged behind internationally. Dubai government and RERA have played a significant role in bringing Dubai property sector right back on the road of recovery. The concerned departments ensured that the international investors begin to see the true potential of the home market. With enforcement of formal legislations, investor's protection laws and introduction of regulatory framework by RERA, Dubai realty sector be more prior to the international parameters of transparency. Dubai has emerged as the utmost transparent market of the center East. This transparency has made investment in Dubai a risk-free proposition for international investors.

Dubai property sector got on the road of recovery in 2012, forecasting promising times and bright future for the entire year 2013. If Dubai housing market continues to meet up the international standards of transparency and keep carefully the investors enticed using its projects, the entire year 2013 will experience more that the full recovery.

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