World of Property & Real Estate

There has never been a better time to buy property in Dubai. Rates have been falling drastically since 2008, and investors are jumping on the Arabic state with it’s huge potential for property income.

Dubai real estate prices fell by 6 percent in the third quarter of 2010, and the UAE’s largest construction firm, Arabtec Holding PJSC, reported a staggering 96 percent drop in profit. Other companies such as Deyaar Development also reported huge losses. Furthermore, many predict that Dubai’s recovery is some way off.

Saudi property billionaire Prince Alwaleed – who has many interests in the region – predicts several years of decreasing property prices before Dubai hits rock bottom and begins a recovery.

Rental prices have been particularly badly hit in Dubai Marina, Jemeriah Lake Towers and The View, whilst landlords with huge numbers of properties have started undercutting market prices, causing further rate falls – by up to 38% in some cases.

Dubai has put itself on the real estate map in recent years, building record-breaking monoliths, palm-shaped islands and man-made archipelagos. It’s attractive no-tax model and highly modern infrastructure has drawn international companies to the emirate. Huge quantities of cash were borrowed to finance Dubai’s more ambitious projects. But with the onset of the global economic crash in 2008, property prices plummeted and foreign investment dried up.

It may be time for Dubai to start thinking the unthinkable in order to pay off their debts: income tax or corporate tax might be the only way out for this great centre of trade and tourism. Reforming the UAE’s residency laws is one idea being floated, since the current set-up encourages transient expatriate white-collar workers who have no personal investment in Dubai, only a view to get in, make a tonne of cash, and move on. Residency rights do not often extend beyond 3 years under the current law.

It’s all good news for buy-to-let property investors, though – or at least those who can afford to bide their time. The slump will level out in time, and the market will undoubtedly do what markets do and improve itself. If you are interested in looking at property in Dubai, visit the DialAFlight website to book a very reasonably priced flight to Dubai and get house hunting.

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The property prices are rising at daily basis in Dubai. The real estate and property dealing service are going to the decline due to the rising prices of property. It is really financial issue for the Dubai economy, the increasing prices of Dubai. It is almost impossible for a middle class person living inside or outside Dubai to buy any property and most of the people working in Dubai are middle class because they are hired from such under developed countries like India, Pakistan, Bangladesh etc. they can not afford to live in Dubai now and are shifting back to their countries or other sides. 
Dubai has developed its infrastructure on such outsource people from small countries but now they are leaving Dubai due to rising property prices and their effects on the living. And this is not a good thing for Dubai and its progress.
But if you have money, and you want to buy a property in Dubai, it is a good opportunity for you to buy a house or property in Dubai because in spite of all the facts disturbing the mediocre, Dubai is still a blessing for rich people who can invest and earn lots of profits in the business of property dealing.  This is one of the reasons that investment in properties of Dubai is still going on and people are buying and selling their property to earn profits. But the market consistency in Dubai is not acceptable via this condition because increase in prices has affected much to people living in Dubai. The rents of shops, malls and plazas are increasing as well and they are rising the prices of every day products and almost everything has grown up due to the rising prices of properties through out in Dubai. And due to the high prices it is affecting purchasing power of ordinary people who are now going back to their homelands or other countries to live and settle a good life there.   People concerning the property issues must think about the increasing and rising prices of property. They should think about the purchasing powers on individual basis and try to make some policies to solve the rising prices issue of real estate in Dubai. But if this issue is not taken seriously, Dubai can face a real problem which can directly affect the economy of the city and people living in it.

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