Today, Dubai is not just becoming a hot spot just because of its hot desert climate but it is also becoming so much popular for its booming Dubai real estate market. Since 2002, the Dubai real estate sector city's property sector has seen tremendous growth when the government of Dubai announced a tremendous opportunity for foreigner investors or property lovers to buy property in Dubai. This was really a great chance for property investors to invest their income on any property in Dubai.
According the Colliers statistics which was quoted in Global Property Guide, the time period from 2003 to 2007, the prices of Dubai villas increased at an average of 226 percent within four years, not only this, the prices of apartments in Dubai also increased by an average of 100 percent. This was really a great achievement for Dubai real estate sector.
According to Arab investment firm EFG-Hermes' statistics, prices of Dubai rentals also increased at an average of 25 to 40 percent in 2006. But the government has imposed caps on rental price increases; as a result the prices of rentals decreased from 15 percent in 2006 to 7 percent in 2007, and most recently to 5 percent in 2008 for tenants who have occupied their apartments for two years.
With the growing popularity of Dubai and being as one of the most favorite tourist destination, it is expected that the Dubai's population will double in the next decade. This prediction is announced in an article named as "The Business last December". That's why it might be possible that demand of buying properties in Dubai will increase at a high rate.
Many real estate specialists and industry players are worried about that Dubai's real estate market might similarly crash because of high demand of property for sale or for rent in Dubai. The only solution is only huge real estate developments in Dubai. Without enough demand to fill the loads of properties, prices are expected to fall hard and fast.
Today, the Trump Organization, one of the ground breaking developers in Dubai, has entered into a joint venture with the local-based company Nakheel for the construction of the 48-story Palm Trump International Hotel and Tower. This is really a great step to overcome this increasing real estate demand in Dubai.
Still, the performance of Dubai's real estate sector is not satisfactory but some experts stay optimistic and believe the real estate market will stabilize this year. As there are so many factors involve like population growth and market regulation by the Dubai government, that plays an important role in the performance of Dubai's real estate market.
So, if you are a real estate lover or want to buy property for sale Dubai, this year will be a golden year to earn from real estate investment in Dubai. So, just make some effort to search your favorite property for profitable investment.
According the Colliers statistics which was quoted in Global Property Guide, the time period from 2003 to 2007, the prices of Dubai villas increased at an average of 226 percent within four years, not only this, the prices of apartments in Dubai also increased by an average of 100 percent. This was really a great achievement for Dubai real estate sector.
According to Arab investment firm EFG-Hermes' statistics, prices of Dubai rentals also increased at an average of 25 to 40 percent in 2006. But the government has imposed caps on rental price increases; as a result the prices of rentals decreased from 15 percent in 2006 to 7 percent in 2007, and most recently to 5 percent in 2008 for tenants who have occupied their apartments for two years.
With the growing popularity of Dubai and being as one of the most favorite tourist destination, it is expected that the Dubai's population will double in the next decade. This prediction is announced in an article named as "The Business last December". That's why it might be possible that demand of buying properties in Dubai will increase at a high rate.
Many real estate specialists and industry players are worried about that Dubai's real estate market might similarly crash because of high demand of property for sale or for rent in Dubai. The only solution is only huge real estate developments in Dubai. Without enough demand to fill the loads of properties, prices are expected to fall hard and fast.
Today, the Trump Organization, one of the ground breaking developers in Dubai, has entered into a joint venture with the local-based company Nakheel for the construction of the 48-story Palm Trump International Hotel and Tower. This is really a great step to overcome this increasing real estate demand in Dubai.
Still, the performance of Dubai's real estate sector is not satisfactory but some experts stay optimistic and believe the real estate market will stabilize this year. As there are so many factors involve like population growth and market regulation by the Dubai government, that plays an important role in the performance of Dubai's real estate market.
So, if you are a real estate lover or want to buy property for sale Dubai, this year will be a golden year to earn from real estate investment in Dubai. So, just make some effort to search your favorite property for profitable investment.
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