Dubai Marina a Darling of Dubai Property Investors

Despite doomsayers, the demand for Dubai property shows no abating. The property boom in Dubai is still unhindered. The demand is truly outstripping  supply.

Property prices in Dubai have appreciated in major free hold zones.  For example, the average prices of property in Dubai’s ‘Marina Terrace’ have appreciated above 200 per cent since the development was launched in 2002. ‘The Waves’, in Dubai Marina is a big residential project and appreciated by over 160 per cent per cent since its launch in 2002.

Cluttons reported that the average price of a property in Dubai was £90 to 100 per square foot in 2004. But today it is close to £250 per square foot.

If a one-bedroom apartment in The Greens was sold in 2004 for approximately £75,000, today its value is £250,000.”

Big Growth

Despite a slowdown in capital growth, the average prices of property in Dubai continues to grow impressively. It is appreciating at an annual rate of 15 per cent per annum, asserts Middle East business provider AME Info.

With so many off-plan projects nearing completion, there is no stopping of the supply in Dubai property. The best apartments for sale in Dubai can be expected in months ahead.

Prices Not High

Prices of Dubai properties are still low, when compared to other global cities and payment terms are also favourable. The government policies have sparked a wave of investment in Dubai from investors drawn from all parts of the world.

This led to amazing new developments, regeneration and more stock.

Dubai’s skyline also expanded. As one of the fastest growing cities in the world Dubai also transformed into a hub of large businesses.

Growth Drivers are Still There

Sitting on an asset that is always rising makes sense. The boom in Dubai property is far from over. The residential market remains lucrative due to growing demand for property in Dubai from the end-users. If buyers are looking for growth, then current demand will outstrip supply and prices will rise further.

Changing Strategy

Dubai had been enjoying a robust growth in the past few years, ever since the Dubai government decided to encourage foreign investment backed by liberal policies and freehold ownership of property for foreigners.

The Official decree of 2002 by Crown Prince, Sheikh Mohammed bin Rashid al Maktoum was a land mark. It accelerated the diversification of the Emirate economy from the dependence on oil and guided it towards opportunities in the financial services and tourism sectors.

Add a Comment

Your email address will not be published. Required fields are marked *