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Real Estate Revives In Dubai

Posted: Dec. 20th, 2012  |  By Michael Pearse

Things are looking good for Dubai's housing market as property value and rental prices have increased significantly over the past year after 4 year slump. Housing demands are up and as the economy picks back up Dubai begins new construction.

Residential rents have increased in Dubai by an average of 17% in the last 12 months, bringing much needed stability to the market.

In some of the most popular locations such as Dubai Marin and Palm Jumeirah rents have gone up by almost a quarter, according to the latest market report from consultants CBRE.

 

Dubai was one of the hardest hit real estate markets during the downturn, with CBRE reporting that average one, two and three bedroom apartments seeing rental rates slumping by 54% between the end of 2008 and the end of 2011.

Read More on nuwireinvestor.com

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