Although the most intense phase of the economic crisis is now over, and with the property market in the UAE having recovered much of its confidence in the last year, the latest research demonstrates that there has been a decline in both sales and rental values in most sub-sectors of the property market. This is largely due to an increase in new supply entering the local property market for the UAE, most of which is coming from Dubai.

Dubai properties for sale and rent have fallen more in value in comparison to other areas of the UAE, and as a result, there has been an increase in demand from residents living in Sharjah to take advantage of falling values in Dubai’s commercial and residential property.

Nevertheless, commercial property in Dubai, particularly unused office space, has seen rising interest over the last six months, with tenants taking advantage of the falling rents as well as reflecting an increasing confidence in the broader macroeconomic position of the region.

In Abu Dhabi, there has been a similar decline in the overall value of properties, but at a much slower rate than the fall in Dubai. Abu Dhabi remains one of the more inflexible property sub-markets, with fewer properties available for occupancy. The low supply has meant higher rents for residential and commercial property, though still lower than they were a year ago, partially due to slightly decreased demand because of the financial crisis.

Nevertheless, a significant amount of new developments in Abu Dhabi are expected to re-start in 2010, having been put off in 2008 and 2009 because of the crisis of confidence in the property market. Once property developer and investor confidence is restored, the signs are that the overall UAE property market will return to the pre-crisis status quo.

With globalization Dubai has truly become an international city. Walking on the streets of Dubai is just like walking down 5^th Avenue in New York or Knightsbridge in London. Dubai is a mix of people from all different communities and this is what makes it one of the most vibrant cities in the globalised world. Dubai is a mix of people and cultures from all corners of the globe and that is what truly defines the residential parts of the place.

In this economic downturn, something which has been able to maintain its stability is the real estate of the Middle East and, more precisely, Dubai. The property development sector did suffer for a while when the economy bottomed out, however the strength of real estate in Dubai is going to stay this time. Over time Dubai has become the epicenter for real estate.

Until recent years there were restrictions on the sale of Dubai properties to foreigners. However, with the lifting of this restriction a few years ago, the Dubai property market has been extremely dynamic.  There has been a lot of buying and selling of houses for sale in Dubai and growth had been exceptional in the years immediately following the lifting of the restriction. The Dubai government is actively driving diversification of its core industries and shifting its economic base to these fields such as finance, commerce and tourism.

There has been lots of speculation about property prices in Dubai, however major economic indicators have suggested that the growth rate of property should maintain steady growth. Another benefit from buying property in Dubai is 100% freehold ownership. Rental yields from Dubai residential property is presently between 8 and 10%, better than many developed cities around the world.

Dubai remains a strong real estate market. There is something to choose from for every investor, whether as a owner-occupier or owner-investor. Types of properties available range from residential apartments and signature villas, to office and commercial space, and it is a major attractor for international investors. Dubai real estate boasts amazing projects such as The Palm and The World - the world’s largest artificial island clusters, developed with villas, apartment towers and holiday resorts.

Those with property investment interests in the UAE may welcome research from HSBC which shows that property prices are rising in the emirates.
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Government officials in Dubai are in talks to introduce a new law that would clarify the rules on issuing residency visas to property buyers in Dubai – and it could be introduced as soon as this year…
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The current global economic crisis has hit the rapid development in Dubai. In recent years, the Gulf state became a magnet for property investors attracted by the prospect of substantial returns, and has been marketed as a luxury shopping and holiday destination. Now the boom appears to be slowing down, as Government-owned developer Nakheel, one of Dubai’s largest employers, reduces its workforce by 500.
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Even Dubai, the seemingly invincible ‘nothing can stop me now’ emirate is feeling the effects of the credit crunch, with property prices in some of Dubai’s most prestigious developments falling by as much as 50 per cent…
Continue reading ‘Dubai Property Prices Halved’

Celestica Residence is strategically located in Jumeirah Village - district 14 which will be at the heart of new Dubai. Located in an elegant and serene neighbourhood in Jumeirah Village, Celestica Residence offers spacious, well-designed luxurious Villas and apartments to transport you into a world of luxury and exquisite living experience. A contemporary residential structure with inspiring architecture, Celestica is an ideal home for those seeking an urban lifestyle in a serene community environment combined with world class infrastructure and proximity to all leisure facilities, one is bound to experience sheer living pleasure.
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Zero Five Zero enjoys a prime beach front location in Madinat Al Arab, Waterfront Dubai’s premier community and one of the most strategically advantageous locations in the UAE overlooking the Pal Jebel Ali from the rooftop swimming pool. The modern architecture and luxury interior design of the Zero Five Zero development ensure many apartments enjoy unobstructed sea views from private gardens.
situated midway between the Dubai International Financial Centre (DIFC) and the UAE capital Abu Dhabi and is close by the new Dubai World Central whilst being conveniently located from the new Dubai Airport. An excellent transportation network with a well planned road network and public transport system ensures businesses and residents will have easy access to other areas within Zero Five Zero.
Waterfront Dubai’s Central Business District will offer state of the art office facilities and a world-class environment in which to work, play, relax and do business.
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