Published: 9th September 2013
Recent figures from the Dubai Land Department have shown that the number of purchases of property in Dubai has risen by over 20% in the first half of 2012, reversing the trend in the emirate in recent years, and adding substance to the thought that the Dubai property market is slowly emerging from the property crash of 2008.
The main reason for the increase in demand for Dubai real estate is thought by many industry leaders to be Arab Spring, which has resulted in political instability in a number of countries throughout the Middle East. With investors looking for longer term political and economic stability to support their investments, Dubai is seen as a relative safe haven for the region, whilst offering additional value through the relatively low property prices in the emirate.
Recent figures released by Jones Lang LaSalle have shown that although demand for property in Dubai has increased considerably in recent months, this does tend to be concentrated within the top end of the market, where villa prices have seen increases in excess of 20% in the first six months of 2012. In comparison, the prices of apartments for sale in Dubai have risen by just 1%.
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