Dubai property market rises due to foreign investment

Commercial news February 27, 2018 No Comments admin Dubai

Dubai property market : Dubai has been hailed a ‘haven for UK commercial property investors’, and has been identified as the top Middle East investment target for real estate

Following a turbulent few years, Dubai’s property market is thriving among foreign investors, thanks to excellent rental return and government initiates supporting stability – an economic boost the country was relying on.

Dubai property market

Dubai’s high-end properties are spearheading market averages with prices having increased during the first three months of 2016, according to a report by Knight Frank. The residential and commercial property consultancy said prices in the prime segment increased two percent on a quarterly basis, between Q4 2015 and Q1 2016.

Zarah Evans, Managing Partner of Dubai-based Exclusive Links real estate brokers, believes that as the country’s economy continues to improve, so too will foreign investment: “Despite the geopolitical unrest, Dubai is still considered as a safe haven. Property prices are reaching their lowest, mortgages rates are at their lowest and there remains the tax free advantages”.

“Foreign investment has always dominated the market here whilst local residents who have lived the highs and lows of the Dubai property market are, at times, more cautious.”

The surge in the market was an unexpected result after the economy hit its slowest pace in five years earlier this year. Real estate and construction account for 21 percent of GDP, according to Dubai Department of Economic Development, and data from Dubai Real Estate Tracker showed that buyer inquiries and transactions fell in the last three months of 2015. However, foreign investment in the market could have been what has saved the country’s real estate revenue this year.

So, what are you waiting for? Do you need any more convincing about the benefits of buying property in Dubai?