Experiences of Dubai Real Estate Market
Almost a decade ago there was a great stability in the real estate market of Dubai as there was rapid investment and growth was taking place and people from the different corners of the world were transferring their money in Dubai in terms of investment in the real estate, at that time people were acting like crazy to get a piece of this land and for which they paid double the worth of the land, however, the out come after certain interval of time was not good enough. The reason why the investment did not produce the outcome as per the forecast of the investors was that the entire Real Estate Dubai market came down crashing badly. But somehow the real estate market started to re-structure and rebuilt itself and up to a certain extent it has been quit successful and creating a new image, as matter of fact better than the previous image because it was not an easy task to recover from such a huge dilemma.
Even after the restoration the real estate market is still in the state of certain instability and there is great variation in the different kinds of properties whether it is the rental property or it is just another property for sale. Another reason for the instability is that over the past few years the number of newer residents moving into Dubai is not considerable enough due to which no major shift has been observed in the market, the marketers and property developers are looking for a turn over that could possible bring a change into the real estate world of Dubai and surrounding regions. There was a time when people perception was that the Dubai Rental would be too high and they will not be able to afford or pay that much of amount but today the circumstances are completely contrary to that, there is not doubt in it that the prices of property has currently reached at the bottom level and the rent of villas, apartments and even the rent of offices have dropped to the ground level.
Because o f the downfall in the Dubai rental it has more over become the renter’s destination rather than those of the sellers and buyers and as a matter of fact it is quit true because the people arriving here are interested in having an apartment or villa for rent and not on ownership basis. Similar is the case with the people who are looking offices for commercial purpose, even the businessmen are looking offices on rental basis and the reason for that is, it comes more convenient for them to have a suitable spot or building which is ideal for their business and another important thing is that they may also easily switch to another location or office if they could adjust with the working environment which the can not do in case of owning of an office.
Author Bio
Alicia Arlen has been associated with the real estate industry of Dubai for the past 8 years. Being a real estate broker herself, Alicia Arlen specializes in Buy Dubai Property, especially Rent Apartment Dubai and apartments to let in dubai. She writes articles for various online blogs and is a regular contributor here on our site.
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