Dubai Trends 2018: Real Estate Sectorby Rubina Ali webdesigner
Global Property Price Trends
● In the year 2017, Global property prices has increased by 2.1 percent.
● That is an increase of 1.6 percent as compared to the previous year.
● However, oversupply in Dubai has softened the prices by 5 percent currently.
Volatile market but improving
● Though the Dubai market has always been known to be comparatively volatile, nowadays the market does seem to be maturing.
● Performance has improved massively over the previous years.
● The sentiment is encouraging, with the impact specifically being on the borrowing or the caps on loan payments. Also, falling oil prices have started to reduce.
● This is another thing that has affected the trend to buy property in Dubai.
● The Dubai market has currently drawn considerable Chinese investment such that the country now ranks sixth-highest for inbound property investment.
● As per the recent report of May, it has been the eighth-highest. It is indeed a policy shift which grants the Chinese nationals visas on arrival in Dubai.
● This has in turn enhanced the connectivity. This is signified by direct flights from Dubai to 13 Chinese cities.
● Another important trend is the direct access from U.S to Dubai. It is available from 12 US cities.
● This has also in turn led to an increase in tourism and more increased investment from the US nationals.
● There are more buying opportunities for U.S citizens because of the current weakness of the US dollar. Against the dollar the dirham is pegged. So, it is a great situation for International investors.
Currently, the UAE government is committed to enhance the local economy along with the recent visa and foreign ownership changes. This will certainly be advantageous to the Dubai property prices including villas and flats in Dubai in the long run. Forty three per cent of the 2018 budget has been earmarked in order to enhance crucial sectors such as infrastructure and transport, as well as public services and the development of a knowledge-based economy. This commitment will very likely culminate in holistic economic stimulation and development in the property market.
Created on Aug 27th 2018 01:23. Viewed 673 times.