Dubai real estate outshines to recover from recession

Offering an exclusive living experience to the locals and tourists, the real estate sector of Dubai is acknowledged in the world for its ultramodern development plans and construction ideas. The same sector was adversely affected when the financial crunch hit many countries in 2008. According to an estimate, the property prices in this emirate plunged down to more than 50% of the market values that prevailed at that time.

Nevertheless, this was not the finale of Dubai real estate. The city countered the limping gait of its realty sector with perceptiveness and the construction works still sustained, even though not with the same pace. The baffled sentiments of the investors once again got flavour, as 2012 indeed proved promising for the realty market of the city. Even the Q1 of 2013 demonstrated favourable trends for the property market of Dubai. Experts noted that the first quarter of current year celebrated a property transaction hike of 63%. The market clearly shows the signs of recovery, as sale and rental prices of properties showed 16 consecutive surges till March 2013. According to property professionals, Dubai Marina Apartments were one of the top properties that broke off the recessionary effects and scaled up in the realty market.

Dubai charms the tourists from various regions of the world and the city of Dubai, other than its stupendous vacationing options provides vast choices of accommodation. Out of the seven emirates, Dubai homes most skyscrapers that elevate high in the skyline of this amiable city. It amazes the world through innovations in the construction works. For instance, the development of Palm Jumeirah off the coast, delivers a notion that real estate works can also surpass the boundaries of land and seas can be used for accomplishing construction strategies.

Accommodating a rich collection of structures and buildings, the metropolis features a contemporary interpretation of the Islamic architectural works. Considering the boom and the promising nature of Dubai real estate, the sector is supported not only by rich Arabs, but also by the international construction firms. As a result of immense work in the construction industry, the infrastructure of the whole city has transmuted vastly. Dubai which was a desert city, now regarded as a symbol of luxury living. Moreover, the realty sector also rides high amongst the top property markets of the world including, London, Monaco, Moscow and Hong Kong.

The resurgence in the Dubai properties also implicates with the overall trade of the city. Experts expect that this positive air in the realty industry is likely to bring a trade progression of 14% the impending time. It is also expected that the property boom this time will be backed by strong and stable factors, so that the market may not crack down again.

The mammoth regard that is being given to the construction industry of the city provides an impression that the metropolis is no more relying on its oil reserves solely for progressing the economy. Considering this resurgence, an increased footstep of investors is expected in the property market of Dubai.