Thinking Of Investing In Real Property In Dubai
According to latest surveys conducted in various regions of Dubai
, a positive trend has been noticed in the rental rates. The latest reports show an increase in the residential rental market of Dubai. The trend is good news for the real estate property dealers who were suffering huge losses in recent years. Dubai is the also called as the trade capital of UAE. It has registered a significant 5% increase in the rates of rental property which is exact opposite of the down turn noticed in other parts of the country. The rental rates of villas, apartments and financial properties have increased on a whole. The average rent of a one bedroom apartment in Dubai is around $19, 000. This is almost 5% higher than the previous years rentals.
The improvising global economy and increasing investment options of the population are showing positive trends in the real estate market. The consistently increasing tourism in the state is another contributing factor to the retail real estate market of Abu Dhabi.
The report is supported by the latest financial trends also. Real estate and construction index has risen by 6.1% in the month of April only. Further, this sector has been ranked as no. 1 in terms of value of traded shares. According to Mr.
Tej Kohli Abu Dhabi, real estate investor, the rental rates of residential units are registering a gradual but consistent hike in selective prime locations of the region. Even though, these communities are crowded and have their share of discomfort, still, they are preferred by the leading classes.
The economy has stabilized and its direct effect is visible on the real estate market. 650,000 foreclosed houses have been sold off so far. The remaining 710,000 houses are scheduled to enter the market in the coming month. The big giants of the real estate company are keeping a watchful eye to grab this opportunity.
However, for those who had made a mind to definitely buy a particular property can survive the bidding wars by settling the price issue with the owner prior to going for open house. By offering a competitive price and being flexible to negotiate you can win the bidding wars without getting into it.The positive trend has already shown its effects in the Abu Dhabi and Dubai region. Several prominent companies are launching or announcing soon to be launched projects in this region. The Real Plus investment group is considering several such options. The retail as well as housing real estate market rates are surging in Abu Dhabi and Dubai.
by: Tej Kohli
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2024-2-20 04:41
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