Spiralling Rent and Property Prices Driving Growth in Affordable Housing

There is more curiosity in the market circles to know about the communities which are in hot demand in Dubai. The three prominent communities– Dubailand, Dubai Sports City and Jumeirah Village Circle are the new hot favorites of prospective buyers and renters as far as in Dubai is concerned.

The sale prices and rents in these communities are rising exponentially. The largest portion of future stock is expected to be delivered in upcoming areas such as Dubailand and Dubai Sports City where the demand has already escalated from buyers as well as renters.

Price Correction in Dubai Property Market May Happen

The growing demand for prime property has engulfed the whole of the emirates. And Dubai is no exception as all its prime locations are in a mega real estate boom. Dubai, long considered a highly competitive yet lower priced market has taken this new real estate boom in all seriousness. Perhaps this is the last thing the government wanted.

Those looking at property for sale in Dubai, aver that Dubai is heading where many of the Asian markets have headed in the past–that of overpricing. The reason is pretty simple–there is not enough supply to meet the soaring demand for property in Dubai.

Dubai Unbeatable In Residential Property Demand

For Dubai, year 2013 was an affirmation of sorts that the Dubai real estate market is resilient and unbeatable.

So the Property for sale in Dubai is set to ensure high returns. Not only the Dubai property market it moved out of the slump but it also managed to catapult itself to the second spot globally as a high performing realty market.

Globally the rates of luxury residential property grew in 14 global cities. But the highest growth of 2.5 percent in premium properties was recorded only in Moscow, Dubai and Miami. So Dubai is in an envious position as the strongest performing real estate market in terms of the appreciation in property value both in residential and commercial realty.