Dubai real estate market strikes a positive note
The Dubai real estate market has moved towards the positive path towards the end of 2011. Despite the economic recession, the market has been seen gathering pace. The market is stabilized now, and although the stability is seen only in limited commercial and residential segments, the market is on a sure positive path, expected to continue in the year 2012 too, according to Cluttons International, a leading real estate company in the UAE.
Despite the negative happenings in the US and European markets the Dubai property market remains untouched. Further, Dubai has had the advantage of Arab Spring, with its residential properties having gained more advantage from the current capital shifts in the region.
The buyers are also gradually showing interest in commercial properties, trying to gain benefits from the cost savings now available in the market. The prices are declining, but, slowly. However, it should be noted that the real estate prices in Dubai are still affordable in comparison to other giant property markets like London and New York, wherein even single bedroom apartments are hard to afford for a single person, and is shared by more than one.
Among the positive attributes highlighted by Cluttons on Dubai real estate market are that buyers and their demands are more mature with variety. Buyers are taking into considerations several aspects like location, amenities, sense of community, decor, quality and more, when purchasing a property. Even the landlords and sellers have modified the properties to suit the need of buyers. They recognize the trend of lesser opportunities for selling, rather than waiting for a good rent