Dubai: Still a hot property investment market
Dubai's property market, remained under intense pressure in the wake of global financial crisis and Dubai Debt Crisis, is still fertile for investors across the global despite all odds. The market has potential to rebound and it has been offering huge opportunities to the investors.
Nicholas Marr, Chief Executive of Homesgofast. com, said that the market has been undergoing period of restructuring and capable to attract investors due to availability of range of amenities offering quality life. Places such as Dubai Marina, Jumeirah Beach, springs and Arabian Ranches have a potential to attract investors given to excellent infrastructure and living and work conditions.
Marr added, "These areas will only improve as work continues with infrastructure improvements in the emirate making life even easier for those living and working there."
The latest Colliers International house price index claimed 7 per cent rise in property prices of Dubai in the December quarter. But it would take time to attain its past glories when property boom turned Dubai as world's most preferred investment destination.
Asteco, a leading property developer of the United Arab Emirates said that Dubai's rental rates for apartments and villas remained under intense pressure in the past year but the developer hopes for the situation turning well given to the signs of improvement in the economy.
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