“The de­mand for qual­ity rental prop­er­ties is grow­ing and will con­tinue to grow and keep the prices up.”

Good (UAE) - - THE GOOD LIFE -

The property mar­ket has been quite steady in 2014. There has been mod­est growth, but not the growth we wit­nessed in 2013. Rental prices will con­tinue to rise this year, due to the fact that the econ­omy is do­ing very well. The tourism in­dus­try is siz­zling hot. Due to the suc­cess­ful EXPO 2020 bid, a lot of new busi­ness is com­ing to Dubai. The de­mand for qual­ity rental prop­er­ties is grow­ing and will con­tinue to grow and keep the prices up.

Sale prices will also con­tinue to go up. Due to the strong eco­nomic con­di­tions and de­mand for qual­ity hous­ing, in­vestors will keep in­vest­ing in Dubai as this mar­ket pro­vides in­vestors a de­cent rental yield along with longterm cap­i­tal growth.

Pop­u­lar ar­eas to in­vest in­clude Dubai Ma­rina, the Palm Jumeirah, and Down­town. Ara­bian Ranches and the re­cently launched Mira project are quite pop­u­lar with those in­vest­ing in vil­las.

Down­town is a great place to in­vest in Dubai, due to its lo­ca­tion and the high qual­ity of in­fra­struc­ture. The Down­town mar­ket is still be­low the highs of 2008, and there is po­ten­tial for this mar­ket to grow to the same lev­els. The Mira project in Ara­bian Ranches is priced very well. It’s very pop­u­lar among the mid-in­come mar­ket seg­ment.

Those rent­ing in the next few months should con­sider Busi­ness Bay, as it’s lit­er­ally ve min­utes from Down­town, yet the prices are sub­stan­tially cheaper.

– Yas­mine Aziz,

Bet­ter Homes

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