|
| |
|
|
| Listen to the latest real estate news, for real estate
consumers and professionals. |
| Click here for more |
|
| |
|
 |
|
|
The real estate market in Dubai is without doubt the most dynamic, innovative, exciting and fast paced in the world.
As property professionals, the question we constantly get asked is “How long can this last?” Ask 10 ‘experts” and you’ll get 10 different opinions. The basic equation to answering this billion-dirham question is a fairly simple one though; one of pure supply and demand.
What is undeniable is that Dubai has historically (and continues) to surge forward at an unprecedented rate. Its story over the last 30 years has been one of success after success. All evidence suggests that Dubai house prices will spike upwards again this Autumn; the supply of completed property remains insufficient to meet the demand of the continued influx of new residents and there will be many of them. Dubai is a boom town with huge inward investment in infrastructure and opportunities for employment in every sector. Trade grew by 50% in the first half of 2008, and GDP growth is up with the highest levels in the world.
There is a direct correlation between house prices and the price of oil. Goldman Sachs has predicted unprecedented highs for oil prices this year (spiking to $200). The bank’s partners have just established their own $300 million fund to invest in the Middle East so they are confident enough in their predictions to back their words.
Increasing consumer protection, which includes new mortgage laws, the compulsory registration of off-plan property sales and a minimum 30% of the value of the property to be paid before certain properties can be re-sold, all contribute to make up a framework of new laws and regulations that will moderate market excess and instil continued confidence in the market.
More projects means more choice and that’s where my team at The Oryx Corporation can help you, the investor, make the best decisions. Oryx has been in the Dubai property market from day one, which means that we have the people, processes and intimate knowledge to assist you to make your property investment decision as fruitful as possible whether you are looking for a simple investment or a family home.
Our ethos is simple, we research the market and opportunities to identify the best properties and investments - our acid test – would we buy ourselves? (in many cases we have). Our selection process is rigorous, our knowledge unrivalled.
I hope you enjoy our recently re-launched website; take five minutes to have a look around, if there is something that interests you, contact us, if there is something that you would like to see, let me know, and if you think someone else should see our site, pass on our web address. We hope to speak to you soon.
Adam Green
General Manager
View all blogs
|
|
|
