Apartments in Dubai have Made Life Easier

Dubai was one of the first cities in the Middle East that went for a renaissance in the last quarter of the previous century. Although oil had been found in a number of countries in the Arab world and almost all of them focused on their oil export for the improvement of the economy but Dubai planned for the future and focused on business and tourism opportunities in their state for long term benefits. People from all parts of the world were welcomed to the city to work at different projects and this sudden rise in the expatriate population of the city gave boost to Dubai rentals as well and thus the real estate business began to see new heights in the state.

Apartments on rent in Dubai have always been the top priority of expats and the reason behind it is that these rental apartments in Dubai are really of great utility for them. They are available at affordable prices in all parts of the city so they are in reach of the working class. The best amenity that these apartments provide for them is that they are present in all parts of the city and tat is why the working class prefers to live in there. They are easily available close to their workplaces so it saves both time and fatigue. The living conditions are also excellent in all parts of the city and their hardly is a problem with any of the societies in the city.

The Dubai administration has been trying all it can to improve the living conditions of the residents and to develop an interest of the investors from various parts of the world to come here and invest in the real estate sector because this sector has seen more progress during the past decade or so than any other sector of the economy. The investors, too, have been extremely confident about the investment in the city because they have seen the performance of the state and all its organs which are extremely business friendly. Dubai properties were the last of the sectors focused by the investors in Dubai but in a very short span of time it has literally taken the economy over in the city which is a good sign for the real estate markets throughout the world.

Dubai Real Estate – A Vital Hand of Dubai Economy

Dubai properties have certainly seen a major hype during the last one and a half year after the end of the worldwide recession era. It was a hard era for the world but Dubai was one of the first cities on the face of the globe that were able to shed the symptoms of recession from their backs. It was the resilience of this city that made it go through all the troubling times and today the Dubai real estate business is again rising to the top just it did before. It is a fact that Dubai ranks among the top few cities in the world in terms of real estate business and the Dubai administration has shown complete faith in their decisions.

The expatriates in Dubai also displayed complete faith in the ability of the Dubai City and the state also showed equal support for the businesses in all this era. As a result, since the late 2010, Dubai real estate began to rise and continues to rise as a burly business segment in the economic mix of the city. The Dubai properties prices have restored the belief of the critics in the ability of the city to bounce back in crucial times. The revival of economic activities in the city has also been helpful in bringing more expatriates to the city tan before.

A wide range of multinational organizations have opened their regional headquarters in Dubai and it is just a reconfirmation of the fact that the Dubai still is the favorite place for the business activities. Tourism industry has just taken the Dubai real estate and the overall economy to yet another height as it brings thousands of people from across the planet to Dubai every year and the magnificent hotels and restaurants and fantastic recreational places certainly allure the fun lovers to visit the city. Rent in Dubai has also seen a positive trend during the past few months due to this very reason as the people coming here generally rent properties for the time being and the students and job seekers who come here have also boosted this industry.

It can be safely said that the Dubai properties will continue to show this elevation in the coming months and years and the day is not far off when the prices will go even higher than the past. The reason why real estate experts predict this is that they can now see no new negative developments coming Dubai’s way that might hurt Dubai economy. The wars in the region are about to be over and the new trade agreements with the gulf cities as well as the far east countries will certainly help the UAE to see yet another high mountain in the graph of their economic conditions.

Al Nahda – Yet another Industrial Hub among Dubai Properties

Al Nahda is one of the newer societies in Dubai and being a newer one, it is a bit away from the hustle and bustle of the city. It has been developed in an area that is famous for its industrial development and most of the residents living in this area are the employees of these places. But it is a fact that it never was densely populated and as the society is developing more and more people are moving and towards Al Nahda. Being host to a number of factories and industries, it is also called as the mini-industrial hub of Dubai.

Although most people living in the area are employed in the same area but for those who work away from the society, the Dubai Metro Bus stations have been developed as well. It is better to own a car if one is living in this society but the metro bus service has multiple stations in the society which allows the people to travel by bus with convenience. The society provides a wide range of facilities and the most important among them is the serenity and peace in the environment of the place. Being developed on the outskirts of the Dubai City it also borders Sharjah.

The Dubai property market is expanding at a swift speed and that just reconfirms the phenomenal business attractions that this city provides. Thousands of people from different parts of the world come here to expand their businesses and also seek jobs in this city. As a result the sky-scrappers have been spread all over the city and all of them have hundreds of apartments to accommodate the residents of the city. The villas are there to serve the needs of the business class while rooms for rent are available for worker and student class.

All these have made the Dubai properties to reach new heights and being ranked at number 12 in the world out of the 27 most successful property markets of the world is a proof that this city is soon going to leave all the other real estate markets of the world far behind with its extravagant lifestyle and luxurious amenities that hardly any other place is capable of providing.

Values Fall, Prices Rise in Dubai Real Estate

Dubai property has been evaluated at a 26% low in the first half of the year 2012 as per the sources in the Real Estate Appraisal Centre (REAC). A total of 1090 properties in Dubai were surveyed by REAC at Dubai Land Department and there was a depreciation of AED 42 billion in the values of the properties.

Mr. Muhammad Al Dah also highlighted that the number of transactions in property market drop by 3% every year and during this first half of the year the values of the already owned properties devalued by an average of 26%. He also gave some suggestions to curb the deflation of the assessed properties which were as follows:

1)      Increase investor’s confidence in the real estate business.

2)      Price stability should be improved.

3)      Market should be allowed to get mature that happens only with time.

The data taken from the applications that were received by the Dubai Municipality that comprised 30% of the total properties valued while 18% of them are from Dubai Courts. The rest were taken from different sources like the applications filed in the banks for loans, grants and also from the auctions etc.

The latest survey that surfaced after the second quarter was Knight Frank Prime Global Cities Index which revealed that during the Q2 the property prices rose by 2% but the rate at which the property prices have been rising for the last few months was 5.6% so there is a bit of a brake in the rise but the overall position is now getting stable as there is no further decline reported for the last at least 6 quarters and it is generally believed by the investors that the Dubai real estate is now getting stable and mature. The price growth during the last twelve months has remained at an average of 2.3%. And Dubai ranks at 12^th among the 27 real estates that were surveyed by this index. It is quite evident that the tough times are over and it will only get better from this point.