Dubai Property Prices Go Sky High!

Thinking about buying a home in Dubai? With property prices set to increase during the summer months, and recent reports that property prices have escalated by an amazing 78% from the end of 2007, there really is no time to waste in buying a piece of Dubai real estate.  While the costs of buying a home in Dubai are soaring, thanks to the continual high demand for property, this does mean that buying now will increase the value of your property in a very short space of time.

Dubai properties cost millions right now and the boom continues. For most people this is seen as a huge investment, and if you are thinking that prices are going to start declining, think again.  Dubai, as well as neighbouring Emirate Abu Dhabi, is still facing a severe shortage of rental property, forcing a lot of people onto the freehold market and pushing these prices up too.  The Dubai freehold market has received a large amount of media attention due to the many unique projects that are currently under construction such as the Burj Dubai and the Palm Jumeirah.  Dubai’s real estate sector is recognised for individuality and impressive designs, but all this fanfare has increased the quantity of investment by overseas buyers, which has made it difficult for local residents.

Property prices have increased by 78% from the last quarter of 2007, until the second quarter of 2008.  During the summer months the real estate activity usually slows down as many residents go on vacation, however, this year is expected to maintain high levels of demand throughout the summer.  With property prices set to increase a further 20% over the next 2 quarters of 2008, and no significant release of properties until 2009, this means that property buyers can still pick up a property that may be expensive, but will sell for a profit.

Looking to sell Dubai property? We have ready buyers for Dubai Sports City, Jumeirah Lake Towers, Business Bay, Jumeirah Village etc...
 

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