Dubai Leading in Real Estate Performance
According to Knight Frank’s latest Prince Location Cities Index, Dubai has performed better than all property markets around the world. It has been named the world’s top performer, in regards to real estate, during the first quarter of this year.
The index shows that they experienced a 4% increase in sales between December 2011 and March 2012. This means that they have had a bigger increase than cities such as London and Jakarta.
When taking into account the current financial issues that are happening around the globe, Dubai is showing strength in the property market as they have seen a 2.7% increase since September last year.
Villa sales have seen an increase of 3% since the beginning of the year compared to the third quarter in 2008 when sales were at their highest.
This recent news has meant that developers have been reacting quickly with the new demand for property here. As a result 3,000 units have been added to the emirates residential stock inventory since the beginning of the year. There is an expected 43,000 units to be built by the end of 2014 which shows that the Dubai real estate market is back and in high demand.
As a result more and more investors are looking to purchase a property in Dubai while the prices are still relatively good, before they rise considerably in the near future are a result of high demand.
This type of growth for a country’s property market is great news to hear while countries in Europe are struggling.
Even though buying in Dubai seems like a sound investment, always remember to take out overseas property insurance
no matter what type of economy you are buying in. This can go wrong even in the most certain of climates and this kind of policy is the best way to keep yourselves covered.