Dubai property prices up by 1.09%
The latest figures by the REIDIN.com index showed that the average property prices in Dubai have increased by 1.09% in December 2011. This monthly escalation in the real estate value of Dubai reflects the overall growth trend that was experienced throughout 2011, which was marginally slow but maintained stability!
Several factors have played a major role in this gradual improvement in Dubai’s real estate market; one was namely the Arab Spring unrest, which established the emirate as a safe haven in the Middle East, resulting in an inflow of capital.
The highest increases in values were generated by properties in prime locations, which have attracted a level of high demand from not only investors, but local residents too, who have realised a better standard of living and higher than average rental returns.
Property in Dubai is projected to increase more sharply in 2012 as market confidence completely recovers.
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