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 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.
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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 specialists and industry
players are worried about that Dubai's market might similarly crash because of
high demand of property for sale or for rent in Dubai. The only solution is
only huge 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 demand in Dubai.
Still, the performance of Dubai's
real estate sector is not satisfactory but some experts stay optimistic and
believe the 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 market.
So, if you are a lover or want to
buy property for sale Dubai, this year will be a golden year to earn from
investment in Dubai. So, just make some effort to search your favorite property
for profitable investment. For more info visit Global
NCR.