In the 6 months from January to June 2014, Openshore Property has seen a 31% increase in sales of low cost investment apartments under AED 600,000 (£100,000) to Dubai Property buyers from all over the world, compared with the same period last year. The increase has been driven by buyers from the Middle East.
Two of the most popular countries considered by International Investors for property investment are the UK and Dubai. Our group companies (Find UK Property and Openshore Dubai Property) sell and manage property in both of these locations, and so we thought we would give you a summary comparing these two options – UK Property or Dubai Property.
Today, Wednesday 27th November, 2013 Dubai, UAE was awarded the bid to host the International Expo 2020 Exhibition.
Dubai’s win to host the Expo 2020 is likely to boost Dubai Property prices in the next few years. The “Expo” exhibition is a 6 month long world exhibition that is hosted every 4 years in one world city. In the final round today Dubai competed with Russia, Brazil and Turkey and won the bid. Expo 2020 Dubai is likely to be the best ever visited Expo due to the location within Dubai which is on target to become the world number one airport hub.
This win will provide a further boost to Dubai economy, tourism and the property market. Property prices are already rising and are expected to continue to grow well for the next few years at least.
Our view is that Dubai property prices that have been steadily growing for the past 2 years will jump up quite sharply over the following weeks due to this news.
3 Reasons Why Dubai is BOOMING
The property market in Dubai has now entered an aggressive growth phase with prices rising every month. The underlying causes for this can be summarized as being due to 3 main reasons:-
-Dubai Population Growth
-Big Increase in Tourism
-Return in Confidence
These 3 reasons are explored further:-
Last year, about 8 months ago, we told you that the 2nd Dubai Property Boom had started and we were the first company to tell you this.
At the time we expected property prices to rise fairly quickly over the next few years back to peak 2008 levels and then go beyond these before slowing down. This indeed is happening! Prices are now rising every month.
But Will it be another Boom and then Bust? Continue reading
You will remember in our “Dubai Property News” bulletin in April 2012 that we predicted significant price increases due to supply/demand we were seeing first hand in the property market (despite the corporate ‘analysts’ at the time still predicting further price reductions – their information is always out of date)
Our belief now is that the 2nd Dubai Property Boom HAS Started. And please remember – We told you this first!
Top 10 Questions About Dubai property
Here is a list of the most popular questions asked by customers looking to buy a low cost investment property
1.Why are prices rising in Dubai?
After massive drop in 2008/2009 and relatively stability for 3 years prices are now starting to rise. The 3 main reasons are:-
-Dubai Population Growth (50% increase in next 4 years)
-Massive increase in Tourism
-Return in confidence to Dubai
Following the price crash which happened over one year ago at the end of 2008, many are wondering if Dubai will ever recover.
Now at the beginning of 2010, Dubai prices are rock-bottom and there many different views as to what is likely to happen. One view envisages Dubai prices remaining low for 2 to 3 years before a recovery that would see prices gradually returning to the peak 2008 levels by 2015. This is summarized in the chart below and is the most likely outcome in our view.
However, others think that recovery may actually start at the end of this year with prices growing again in 2011. Generally most forecasters do not envisage prices going down even further from the current very low levels.