The last three months of 2014 were slow for the housing market in Dubai, with villas and apartments equally suffering. The problem has not been helped by the mortgage limitations and a rise in transfer fees. The reduction in petroleum price also reduced the strength of the Dubai property market, making potential purchasers aware of where they spend and what kind of investment they invest.
With more and more apartments being allocated to an already slow market, Dubai’s aggressive real estate investors are slow to conclude agreements which would have been an easy decision one day. Although the last quarter of 2014 was characterized as a quiet event, the year itself saw no significant sales activities that were challenging news for a property market in Dubai with improved results.
This year, 25 000 new dwelling units with residential building permits were launched into Dubai Property Market. In some circumstances, more teams sit without tenants for longer durations. Therefore the rental market continues to shrink. This is a fantastic time for end-users to buy while they have access to lower interest rate mortgages, despite the market situation. This is terrific news for investors who may make sensible investments in low-priced properties in Dubai and wait patiently for investment returns.
Dubai real Estate Company
Despite the smoothing out of the 2014 property market, real estate in Dubai is still considered a solid investment. The Land Department of Dubai (DLD) continues its regulatory steps to protect investors and customers alike. In Dubai, real estate companies monitor the drop in oil prices that affect potential customers’ trust, whether investors or end-users.
Competition to achieve fewer buyers and sellers and numerous new homes on the market, with more on the way, is a time for real estate companies in Dubai. Landlords are becoming more realistic with the rental prices that they pay potential and current tenants based on the advice of immobilizing companies in Dubai to guide landlords in such a competitive market. At the same time, sellers regulate their sales prices more independently; they think they can be achieved based on what they believe they can be obtained.
A good perspective for Dubai real estate firms looking ahead is that a substantial expenditure and active attention on Dubai’s diverse economy would enhance the soft market and customer confidence. Investment businesses and their contractors perceive this market downturn as temporary. It gives real estate companies in Dubai long-term trust in the market something to be welcomed by. Substantial projects are at stake and planned by developers for the future.