Dubai has forever been in the centre of attention. From possessing the record for the tallest tower in the world to the biggest shopping mall in the world, Dubai has constantly left people astonished with its happenings.
Economy of Dubai has been able to be most stable in the world and when the whole world experienced economic crisis during economic crisis the city was able to hold its own market.
The actual evidence of this is the consistency of the property market of Dubai and it is witnessing strong growth from the past records. Investors from throughout the world and local buyers have relied on Dubai real estate market and confident on the return on investment from Dubai property.
According to property experts, there is huge anticipation of Dubai property hitting its top in the year 2015. Property experts suggest that there even if the market witness a peak, there is no enough indication as such that there will be a fall in the property market. This conclusion has been outlined after market trend has been supported with enormous analytics and market research.
However the market price have experienced of fall in prices in 2008 and 2009, from that time to this date the property market has been maintained with concern not to witness another fall. According to reports market is witnessing constant continued growth in prices which is a positive sign. Sales prices for all kinds of properties have experienced an increase of almost 6% but the increase in the rental rates have dropped from 10% to 3%. To make sure that market stays stable central bank of UAE had put up market caps on mortgage loans and has increased transaction charges on property deals. This is probable to dismay buyers from overheating the market with hasty investments.
Currently the market for apartments are increasing whereas on the other side the prices are falling slightly for townhouses and villas. A stage of quick growth has been witnessed. Also other properties types such as retail spaces, hotel and offices and other commercial projects will experience the same growth. Rents have been rising at a sensible rate for the past few years. But with this market movement the real estate market of Dubai has revealed that it has the steam for sustainability and it is anticipated to peak in 2015.
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