Business and living environment in Dubai look much brighter nowadays. Many property experts feel that it is a good time to buy real estate in the city. There are a large number of properties on the market in all categories at the moment and the rate of return on rental properties still makes ‘Dubai one of the best cities in the world for long-term property investment’.
The property market in Dubai is bottoming out, which means that prices are likely to increase in the coming years. With mortgage providers retuning to the market and offering competitive rates, a significant growth in the value of properties is in the offing.
Dubai’s bounce back from the economic downturn is also witnessing a steady growth in GDP.
A closer look reveals a more positive picture. Prior to the recession, real estate in Dubai accounted for 26% of Dubai’s GPD. While this sector has shrunk other key sectors have performed strongly to make up for this and post a positive GDP growth.
In the years ahead the trend is expected to tilt to investment in Dubai properties. The continued population growth will increase demand for rental properties. While prices may fall slightly further in 2011, from a longer term perspective, they are relatively inexpensive at the moment and represent a good opportunity for investors.
Many real estate professionals will agree that now is a good time to buy property in UAE.
