An Insight to the Property Market of Dubai

Written by Posted On Thursday, 07 November 2013 04:26

The unfortunate burst of the bubble, which plagued the real estate of Dubai in 2008, brought the property prices down by an epic 65 per cent in some areas. The investor’s interest was shattered around the ears of the developers of Dubai and the Government was forced to watch their carefully nurtured emirate plummet the nose dive they had never even imagined. The investors lost their money and the development projects were halted in mid stages.

Stand of the Government

Learning for the past experiences the Government of Dubai, instead of mourning the loss, decided to pre-empt such crises. The developments started once again and the government backed up the real estate market by boosting up the economy and logistics which made Dubai the centre of attraction of many business firms and thus within months there were job opportunities and people were seen to be flying to Dubai to start a new life and secure a handsome salary. Similarly many online property portals, like, were also created which catered to the needs of the new recruits in their property needs.

Rise in Population

The increase in employment vacancies led to a rapid rise in population which added to the stability of the real estate market of the emirate. The ghost towns started to become inhabited and the hotels which were always roaring with visitors started their expansions and new high rises were constructed. Apart from the habitation of the old developments, many new developments were also created to cater to the influx of the people and residencies like the villas for sale in Jumeirah Park became the most popular for those who desired a permanent residency in the emirate.

The Warnings

Within two years the emirate’s real estate market was already gaining on with the rest or the property markets of the world. The speedy recovery raised many eyebrows among the property analysts and experts of the world and IMF spelled the boom as another boom and bust cycle for the emirate but its government turned a deaf ear to the repeated warnings because this time there was an adequate rise in population which was backing the prosperity of the property market.

The Rise of the Fallen

2012 showed the world that Dubai doesn’t like to cower in any situation and 2013 made it evident that Dubai can recover faster than wolverine in terms of the recovery of property markets. The Cityscape Global, which was hosted by Dubai, became a mega event and the developers utilised it to feature their upcoming projects. Though many sales were executed on the spot and many healthy deals were forged between companies but the property event made Dubai a favourite for the upcoming property Expo 2020.

The Government, in order to boost the investors’ interest made many laws which granted absolute security to the investments of the investors. The governing elements further set in motion many measures which facilitated the return of the investors to the emirate and also to ensure a sustained growth and create an exploding exuberance.

Word to the Investors

Today the property market of Dubai is booming with success and there are no fears of any boom and bust cycle. The people of the world are converging to the emirate in all seasons and the emirate of Dubai has set its sails to the route of luxurious prosperity. All the investors need to know is that the voyage has already begun so investing in the property of Dubai will lead them to reap heavy benefits in future.

Julie Robert is a marketing analyst and loves to write on different topics related to business, property and travel.

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