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