Dubai Property prices are rising again

Dubai Property prices are rising again
Dubai property prices rose in the third quarter for the first time since the emirate’s property market crashed late last year, but are still almost 50% lower than a year earlier, U.K.-based real estate consultancy Colliers International said Tuesday. Prices increased 7% between July and September from the second quarter — the first price jump since the market fell from its peak in the third quarter of 2008, Colliers said in its quarterly price index, which collates mortgage transactions on properties open to foreign ownership since the start of 2007.

Annual prices, however, remain 47% lower, and are currently at the same level as those recorded in the second quarter of 2007. The number of market transactions rose 64% during the third quarter of 2009 on a quarterly basis. “The third quarter results indicate a ‘bounce’ in the market but we will have to wait for the fourth quarter results before we can say whether an underlying growth profile exists, indicating a potential recovery,” said Ian Albert, Colliers International regional director in Dubai.

The average price of property rose to 1,016 United Arab Emirates dirhams ($278) per square foot in the quarter, compared with 949 dirhams a quarter earlier. Apartment prices rose 6%, while villa prices increased 9% and townhouses gained 7%. Colliers said the rise in prices was mainly due to an increased availability of mortgage financing and a perceived increase in job security among expatriate workers. The consultancy firm said the volume of new units coming on to the market next year may suppress average prices in 2010, but added that “certain tier one developments will offer investors oases of performance, predicated upon a return to fundamentals outlook.”

Property prices in Dubai were rising sharply as recently as the first half of 2008. Prices rose 42% in the first quarter of 2008, 16% in the second quarter and 5% in the third quarter, according to previous Colliers reports. However, in the third quarter of 2008, as the impact of the global crisis drew in on the emirate, prices fell sharply and are yet to recover. Prices between the fourth quarter of 2008 and the first quarter of 2009 tumbled 42%, according to Colliers, but the rate of decline slowed to 9% between the first quarter and second quarter of this year. “We’ll have to wait until the fourth quarter to see how strong this underlying growth is,” Mr. Albert told Zawya Dow Jones. “By then we’ll know if a trend is developing

Business set up in UAE and Free Zones in UAE

Business set up in UAE and Free Zones in UAE

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Free Zones in UAE, With the number of zones increasing, their impact on the UAE economy has deepened. By now, UAE Free Zones are home to around 10,000 companies. The Jebel Ali Free Zone being the first Free Zone in the country has created the benchmark for regulations & incentives. Its rapid growth has also provided a powerful economic inspiration to the other Emirates, which have set up their own Zones to attract investment.

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from -http://www.freezonesuae.com/

All Information about the UAE Real Estate Market

The rental property andrental real estate market in Dubai, UAE is a rapidly expanding business. Investors can expect almost a 30% or more return on any property. Dubai is one of the few Arabian states open to the West in terms of culture and social integration and secure in terms of political and economic environments. The Dubai property market is growing and anyone who invests in the real estate of Dubai will see a rapid turnover in their investment.
Dubai is especially attractive for people who are thinking of settling outside their home country in Europe, South Africa or South East Asia. The sunny weather, the exchange rate and the completely cosmopolitan nature of the state is something that is found in few other countries.
Dubai is developing into a nation that is the epitome of globalization. Though a middle eastern country it lacks the formality, conventions and traditional flavors found in the Arab region. Dubai, has reinvented itself to suit the needs of all cultures and conventions. It is a commercial region where the real estate, the property and the investments are being created to cater to a universal regime.
Dubai, UAE is creating a real estate and property boom that will tickle the fantasy of most people. It is creating regions within its borders that are representative of the world. Whether you want to buy, sell orrent in the real estate of dubai the return rate is excellent.
The open nature of the society in Dubai makes it a haven for people who want to retire, relocate their families in a more successful manner and/or are simply looking for a secure return on their money. Dubai is a lively place which has people of all religions, is open to various entertainment factions, has excellent education and healthcare facilities and is overall a place where living is dream.
Some of the most popular Dubai rental real estate and property projects include:

• The Walk
• Jumeirah Beach Residence
• Business Bay
• The Executive Towers
• Vision Tower
• Bay Avenue
• The Villa

About Dubai is a site that offers information on the most popular and successful rental real estate and property projects being built and already completed in Dubai. All the projects are described and presented in a manner such that the information is useful to a person interested in settling or investing in Dubai. The Dubai rental real estate and property market is at the peak and the statistics show that there are more foreigners than natives in this cosmopolitan nation

from - http://www.aboutdubai.org/

The rental property andrental real estate market in Dubai

The rental property andrental real estate market in Dubai, UAE is a rapidly expanding business. Investors can expect almost a 30% or more return on any property. Dubai is one of the few Arabian states open to the West in terms of culture and social integration and secure in terms of political and economic environments. The Dubai property market is growing and anyone who invests in the real estate of Dubai will see a rapid turnover in their investment.
Dubai is especially attractive for people who are thinking of settling outside their home country in Europe, South Africa or South East Asia. The sunny weather, the exchange rate and the completely cosmopolitan nature of the state is something that is found in few other countries.
Dubai is developing into a nation that is the epitome of globalization. Though a middle eastern country it lacks the formality, conventions and traditional flavors found in the Arab region. Dubai, has reinvented itself to suit the needs of all cultures and conventions. It is a commercial region where the real estate, the property and the investments are being created to cater to a universal regime.
Dubai, UAE is creating a real estate and property boom that will tickle the fantasy of most people. It is creating regions within its borders that are representative of the world. Whether you want to buy, sell orrent in the real estate of dubai the return rate is excellent.
The open nature of the society in Dubai makes it a haven for people who want to retire, relocate their families in a more successful manner and/or are simply looking for a secure return on their money. Dubai is a lively place which has people of all religions, is open to various entertainment factions, has excellent education and healthcare facilities and is overall a place where living is dream.
Some of the most popular Dubai rental real estate and property projects include:

• The Walk
• Jumeirah Beach Residence
• Business Bay
• The Executive Towers
• Vision Tower
• Bay Avenue
• The Villa

About Dubai is a site that offers information on the most popular and successful rental real estate and property projects being built and already completed in Dubai. All the projects are described and presented in a manner such that the information is useful to a person interested in settling or investing in Dubai. The Dubai rental real estate and property market is at the peak and the statistics show that there are more foreigners than natives in this cosmopolitan nation

Dubai Property Market Crash

By: Nadeem_Walayat
Whilst the US housing market crash enters into its third year with house prices down approaching 30%, and the UK house price crash fast approaching its second anniversary this August with average prices lower by more than 22%. The developing worlds housing bubbles have only more recently started to pop, especially following last Septembers financial markets crash in the aftermath of the Lehman Brothers bankruptcy For instance the financial capital of the middle east Dubai that saw house prices during the whole of 2008 soar by 40%, however this masks the fourth quarter reversal that saw an 8% drop that has continued to accelerate during the first two months of 2009 into a full blown crash in property prices. The pace of decline is put at an eye watering 7% per month which is prompting panic amongst many foreign investors that bought into the Dubai property bubble including many of the worlds celebrities as the Mirror reports CELEBS LOSING £80K A WEEK ON THEIR DUBAI MANSIONS

Stars including David and Victoria Beckham, Michael Jackson and Brad Pitt are losing £80,000 A WEEK as their luxury Dubai villas crash in value.

Celebs who bought the properties in their droves over the last few years have seen prices halve, with pads worth £3.2million in October now on the market for £1.6million.

Already some of the mainstream press's property sections are implying the fall in prices is a great time to buy i.e. the Property Times Online - " For Dubai's fans, this makes it a great time to buy."
A warning to those investors being swayed, the Dubai property crash has only just begun which seeks to correct a 6 year property boom. The Dubai construction boom is expected to come to an imminent halt with many partially finished projects littering the landscape as investors walk away from the off plan deposits in the wake of the ongoing crash in property values. It remains to be seen how much of this excess supply will eventually be reclaimed by the desert as many foreign investors in off plan Spanish properties are painfully experiencing. My expectations are for an average 50% retracement in Dubai property prices from the peak, with many of the more over-leveraged high end properties possibly crashing by as much as 75%

from - http://www.marketoracle.co.uk/Article9297.html

Dubai property prices fall 1.9%, no signs of recovery

Dubai property prices fall 1.9%, no signs of recovery

Property prices in Dubai, the Arabian Gulf business hub, fell 1.9 percent in January while rents dropped 0.7 percent, Deutsche Bank said.
“Although the pace of decline has slowed lately, we still do not see any improvement in fundamentals that could trigger a recovery,” analysts Nabil Ahmed and Athmane Benzerroug wrote in a note to clients, seen by Bloomberg.
“The supply overhang still looms large, homebuyers still lack appetite, transaction volumes remain anemic, banks remain cautious lenders and international investors are still wary of the UAE property market.”
Emaar Properties is Deutsche Bank’s top pick among UAE developers “given its more resilient profile,” according to the note

from - http://www.arabianbusiness.com/dubai-property-prices-fall-1-9-no-signs-of-recovery-380551.html