After some difficult years, there
are signs that the property market in Dubai is recovering well at the start of
2012.
A recent report has found that
villa and apartment prices in the emirate have risen for the first time in
several years. In addition,
official figures show that the number of property sales in Dubai also rose in
the first quarter of 2012.
Keep reading to learn more about
the rebounding Dubai property market.
Prices of property in Dubai rose in spring 2012
A recent report from property
company CBRE found that the prices of villas in Dubai rose in the first three
months of 2012. This is the first
increase since a dramatic 60 per cent drop in values during the global
financial crisis.
The report also suggested that
prices of property in Dubai would remain strong throughout 2012, particularly
in prime locations. CBRE found
that certain areas are likely to see increases in occupancy rates, rents and
sales as supply in prime areas becomes more limited.
Sales in Dubai up 9 per cent from late 2011
Separate figures from the Dubai
Land Department show that residential property transactions in the first
quarter of 2012 totalled AED3.1 billion ââ¬â a 9 per cent increase on the previous
three months.
The CBRE report said ââ¬ËDubaiââ¬â¢s CBD is
expected to see further improvement in occupancy levels due to limited new
stock, the availability of fitted office space, increasingly competitive lease
rates and landlord incentives.ââ¬â¢
After some difficult years in the emirate,
itââ¬â¢s clear that the property market in Dubai is beginning to recover.
Properties in prime locations such as
Dubai Marina are likely to see rising values and rents in 2012 which is great
news for investors.
Author: Nick
Marr
