United Arab Emirates Property News

Dubai real estate prices still rising

Dubai real estate prices still rising
Research on the worlds housing markets show residential property in Dubai is at the top of the list of the best performing housing markets across the globe. Demand for property to buy in Dubai remains incredibly strong which is helping to push prices ever higher. In the year to the end of the first quarter of 2014 residential real estate properties for sale in Dubai appreciated by more than 31.5 per cent. It is unlikely that demand or supply will decline for the remainder of the year especially more economic projects are planned as Dubai prepares to host Expo 2020.

Data provided by the Dubai Land Department shows that Emaritis are the largest investors in the real estate sector closely followed by Indians, the British and Pakistanis who are all keen on buying property in Dubai. The recovery from the global economic meltdown when residential real estate prices dropped by more than 50 per cent has astounded industry experts and the IMF growth forecast for this year is at least 4.5 per cent.