The small spurts of growth have been reporting in certain type of property in particular locations of Dubai since 2010. Salesprices and rents of villas have been inching up since 2010. On the other hand, apartment prices had been under constant pressure of oversupply for the last 3 years with only few high-end apartments showing recovery in sale prices and rents. This also gave rise to a term ‘Selective stabilization’ in Dubai property sector. This also led the experts to desperately wait for the time when apartments and villa prices would recover at the same time to bring the sector back to its original condition.
The results of Q2 have revealed that finally it’s the time to celebrate uniform recovery, since apartment prices and rents have started to move parallel to villa prices and rents in Dubai. Apartment prices in Dubai have increased by 9% whereas villa prices have increased by 16% during the first six months of 2012. A recent report also shows that rents of apartments in Dubai increased by up to 10% while villa rental rates increased by 13% during the first half of the year.
After the stable performance in Q1, Q2 has brought quite cheerful pieces of news for Dubai realtors. Average increase of 6% and 9% was recorded in the rent of apartments and villas respectively in Q2 compared to the previous quarter. Rent of apartments in Dubai Marina and Downtown Dubaiincreased by 10% in Q2 compared to first quarter. On the other hand, rents in Arabian Ranches and Midriff also inched up by 11% and 13% respectively during the same period.
In short, overall performance highlights of Dubai property sector during Q2 reveals that this is the time to celebrate, since the sector has finally set its foot towards uniform recovery for the first time in three years. This uniform recovery has been long awaited by the experts, since they consider it recovery in real. Experts are predicting recovery to gain momentum during the second half of the year and are expecting prices to strike their original position somewhere in 2013.
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The little spurts of development have been reporting in certain sort of property specifically areas of Dubai since 2010. Deals costs and leases of estates have been creeping up subsequent to 2010. Then again, flat costs had been under steady weight of oversupply throughout the previous 3 years with just couple of top of the line lofts indicating recuperation in deal costs and leases. mortgage loan dubai
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