Principal International considers the growth biz in Dubai property secure
Newswire today Of United Kingdom reported saying “despite predictions, the Dubai property market is not set to burst yet!”
The doubts regarding the outburst in property prices have increased speculation in the market for a future down trend. However, experts say that these prices haven’t reached their peak yet. Over the next two years Dubai would see 200,000 new units, clearly indicating promising future for property market in Dubai. The demand from overseas investors and new expatriate arrivals is also a cause for this up trend. Ten years hence, prices are expected to increase by 50 percent from the current level with a 10-15 percent average price increase each year. This situation would prompt an increase in demand for affordable housing for the lay man.
Mortgage prices in property Dubai are expected to come down from their current higher level as the mortgage market matures. Dubai is one of most profitable markets in the world with a tax free environment promoting high rental yields as much as 15 percent. Dubai market also provides a high standard of living along with crime free environment attracting investors and second home buyers here.
Recently it was announced that world’s only sports city would be built here, adding another feather to its cap. It would cover an area of 50 million square feet incorporating 4 multi sport stadiums and a championship golf course. Not far behind in the race, Manchester United is opening a training school and International cricket council is looking forward to setting up its head quarters here.
Capitalizing on the high-end growth, principal international is keen to offer a section of off-plan property at Palm Jumeria along golden mile. The rate starts from £240,000.
The doubts regarding the outburst in property prices have increased speculation in the market for a future down trend. However, experts say that these prices haven’t reached their peak yet. Over the next two years Dubai would see 200,000 new units, clearly indicating promising future for property market in Dubai. The demand from overseas investors and new expatriate arrivals is also a cause for this up trend. Ten years hence, prices are expected to increase by 50 percent from the current level with a 10-15 percent average price increase each year. This situation would prompt an increase in demand for affordable housing for the lay man.
Mortgage prices in property Dubai are expected to come down from their current higher level as the mortgage market matures. Dubai is one of most profitable markets in the world with a tax free environment promoting high rental yields as much as 15 percent. Dubai market also provides a high standard of living along with crime free environment attracting investors and second home buyers here.
Recently it was announced that world’s only sports city would be built here, adding another feather to its cap. It would cover an area of 50 million square feet incorporating 4 multi sport stadiums and a championship golf course. Not far behind in the race, Manchester United is opening a training school and International cricket council is looking forward to setting up its head quarters here.
Capitalizing on the high-end growth, principal international is keen to offer a section of off-plan property at Palm Jumeria along golden mile. The rate starts from £240,000.
posted by Property Reporter at
10:52 PM
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