Дома звезд в Подмосковье Квартиры знаменитостей в Москве

We recommend

  • Land on the Azov Sea.
    The land under the individual building and a mini-hotel on the shore of the Azov Sea from 75 000 per hundred square meters.

  • Свадьба в России

    Современные молодые выбирают выездную свадебную церемонию на природе. Это трогательное, красивое и  запоминающееся действие.

  • ЖК "Си Лайф"
    Новый жилой комплекс на побережье Лонг Бич. Первая линия. Вид на море и горы.
  • Участки в Тамани
    Минимальная цена - 100 тыс. руб за сотку. Коммуникации включены в стоимость участка.
  • МФК Новосити
    Комплекс сдан! Первая линия, закрытая территория. Новороссийск

Real Estate in United Arab Emirates: Dubai rebirth


Annual price growth, expressed in tens of per cent per annum, following it loud pyatidesyatiprotsentnoy fall and new growth - so can be described by a brief history of the development of the Dubai market the last decade.

Dubai Real Estate

Now the Dubai market is growing again. But now this trend, according to some analysts, has a good chance to become long-term.

"Portrait" investor

Over the past year, according to the index Dubai Residential Property Sales Reidin research company in July, real estate in the emirate of Dubai has risen on average by 17%, including the cost of local apartments increased by 18.9%, and private villas - 10.5% .

However, despite such an attractive statistical picture, the recovery of the Dubai crisis considerably ruffled image still take some time.

According to the participants of the market, before the crisis, more precisely until the 2008, very large investments in Dubai real estate came from Europe and North America, it is now on the market of the notable Europeans were only Englishmen. A major foreign buyers of real estate today - citizens of India. Besides them, the Pakistanis are very active and representatives of Arab countries in North Africa and the Middle East, saving their money from possible negative consequences of the "Arab Spring."

It seems that the history of the real estate market of Dubai is developing in classical spiral. At that time, when in 2002, foreigners were granted the right to buy property in Dubai, the geography of foreign investment also initially limited to neighboring Arab countries. But in the period from 2005 to 2008, it began to actively join representatives of the "far abroad" and it made a significant contribution to the price boom, which averages in the pre-crisis years was around 15% per year.

Before the start of the 2008 crisis in Dubai a buying hype attended both private and institutional investors from around the world already, which is reflected not only in real estate prices, but also provoked an unprecedented growth of the construction sector.

Foreign investors, incidentally, were among the first players in the market, one of those who decided to leave it immediately when the first half of 2009, prices for Dubai real estate for the year fell by 49%.

Now, according to many market operators, some of them may come back. Even though the previous one was the most positive experience of investing in the local market. But, despite some divisiveness of such approval, the reasons for it seems to be there.

Facts and Figures

Data of the last report of the British Standard Chartered Bank, as well as independent index Dubai Residential Property Sales - say that for the second quarter of the year ending prices in Dubai are continuously growing.

The same document states that the first signs of recovery growth market showed in Dubai back in 2011, when the fall in property prices in some areas have slowed down or stopped, and in some places there has been their cautious growth.

Now, like any other growing market, the real estate market of Dubai is attracting more and more new customers. However, according to some analysts, his character in recent years has changed significantly.

The first Dubai property market after what happened to him uniquely collapse become more mature and organized. The construction industry is reflected in a more rational planning of construction projects and more thorough evaluation of consumer demand. The law - in making a number of acts that protect the rights of investors and simplifying processes of investing in real estate.

The New Reality

In the previously mentioned report, Standard Chartered Bank, among others, said that unlike the pre-crisis boom market, the price increase, this time, is not due to speculative, and quite articulate economic factors. The main of them - is continuously ongoing economic growth and population growth.

Also, analysts said Standard Chartered Bank, important issues such as the return of investor confidence and strengthening the legal framework.

Indeed, despite the already significantly updated during the crisis, housing legislation, the authorities continue to put forward new positive initiatives. Now, for example, is expected to adopt two important documents: the Law on the Protection of Investors' Rights and the Code of Corporate Governance for developers.

Separately have high chances of the United Arab Emirates to win the contest for the organization World Expo 2020 Expo 2020, venue to be determined in November 2013 in Paris by a vote at the General Assembly of the International Exhibitions Bureau. Attracting a lot of tourists like activities are also accompanied by the marked increase in prices, as a residential and commercial real estate.

Meanwhile, despite this abundance of provoking the growth of real estate prices circumstances, experts Standard Chartered Bank in its research note that the current market situation is fundamentally different from the speculative market Dubai sample of 2008, so the new "bubble" in the real estate sector is still wary of yet not worth it.

Krinitsky Constantine
back articles