According to Bayut.com, the leading online property portal specializing in the real estate market of the UAE, a healthy growth has been recorded in both the rental and sale prices of property in Dubai.
Online PR News – 19-August-2013 –It comes as a great achievement on part of the emirate that after the unfortunate and rather disgraceful crash in 2008, Dubai managed to recover so efficiently in such a short span of time. And defying all restrictions to the recovery process, the emirate manages to extend its boom to its lesser luxurious areas as they too experience a certain yet respectable rise in property value.
According to the experts at Bayut.com, who burn the midnight oil, studying and deducing the various trends occurring in the real estate market of Dubai, it is perceived that the specific escalation of prices in the posh areas of Dubai has given a piggyback ride to some of the less luxurious places, which in turn have proved to be beneficial to the secondary real estate market of Dubai which was forever being out-shinned by the high rise buildings and the great shopping malls.
“Escalation of prices in the posh areas of Dubai, given a piggyback ride to some of the less luxurious places”
Among the possible reasons, deemed for the healthy spike is the open secret that while the rental prices increased in the luxury realty market of Dubai, the tenants were forced to leave as high rents were too much for some, thus they turned to the less posh areas of Dubai which realising the sudden popularity got its prices escalated as well.
Another factor which was noticed by the experts at Bayut.com was the rise of population in Dubai because of the Arab Spring. Due to the extensive efforts of the government, Dubai has been successful in creating a vast amount of job opportunities to attract investors but the high density of jobs seemed to have attracted many neighbouring Arab brothers, thus resulting in an adequate increase in population. The increase in population is found to be directly proportional to the rise in demand for the residential units and a sincere spike in the amount of tenants as well.
To know more about the curiously important trends unfolding in the real estate market of Dubai and get a peek at the statistical data provided by the experts, read the full article at Bayut.com blog.
With a number of accolades and honours under its belt, Bayut.com is widely regarded as one of the best Dubai real estate portals. As the top choice of estate agencies and investors, the site also offers market intelligence tools to benefit all of its clients.