 |
Dubai Realty Market Likely to Stabilize by 2010
Author: Mr wmhaven  | Posted: 02-07-2008 | Comments: 0 | Views: 11 | Rating: (185)  (?) 
With vast supply of properties expected to hit UAE property market during the coming years, the realty sector in UAE will witness a demand-supply balance during 2010-2011, reveal recent reports.
According to Estatesdubai.com, the currently the UAE real estate market is enjoying a boom, and has been rated as the most active among all property markets in the GCC region.
The UAE property sector has grown considerably over the past five years, due to several factors at the micro and macro economic levels, like the population growth, for instance, which has touched 7 percent per annum.
From today till 2010, UAE do not expect any slowdown in property prices due to the gap maintained between demand and supply. 2010 and 2012, are the opening date of many projects, and hence there are no possibilities of price reduction. It is believed that prices of real estate products will continue to increase during the coming years, due to higher demand from expatriates and due to increased cost of labor and construction materials.
As per the property report released by Great Properties, a Dubai-based real estate sales and marketing agency, the UAE realty boom is likely to face a major roadblock, which may seriously hinder the completion of projects across the emirates. The report states that the real estate market is more of investors' market rather than buyers' market, due to which the realty prices have surged tremendously. The developers are facing high construction costs and delayed completion of projects.
The report reveals that the main reason behind such a scenario is the ready-mix concrete suppliers, struggling with a huge backlog of orders due to immense shortage in cement supplies. Even the prices of cement and steel have gone up by 50 and 70 percent respectively last year.
This being an international trend will have its impact on real estate prices, along with inflation, and high demand. Another major concern for the contractors is the labour, as rents of camps have increased during the past two years, with the resulting costs too, rising up to thrice the value of last year.
Further, the report states that delay in delivery of new properties have led to further rent appreciation with the prices increasing by 40 to 50 percent during the past few years.. Most projects are still under construction, and the next wave of supply will hit the market towards the year 2010, and this will bring about equilibrium in property prices.
The Report was undertaken by ImpaQta Management Advisory Services, a key knowledge resource in the Middle East region, together with Great Properties, an expert marketing, sales and post-sales services agency, for offering interested parties with decision-making tools, future forecasts, and analysis of UAE realty market, and guiding them with property investment opportunities, indicating the factors that boost the sector.
Great Properties is currently working on several projects across the UAE. This report is their latest offering, which aims to create a brief understanding of the UAE realty market so as to enable investors, brokers and developers to remain better informed about market trends and current product prices.
Rate this Article:
Current: 0 / 5 stars - 0 vote(s).
Article Source: http://www.articlesbase.com/real-estate-articles/dubai-realty-market-likely-to-stabilize-by-2010-470367.html
|
Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free! |
|
Related Articles
Favorable Factors in Brazilian Property Sector
By: Mr wmhaven | 02/07/2008 | Real Estate
Brazil is a hot and sizzling country, renowned for its spectacular world-class football, colorful carnivals and wonderful music. Brazil offers breathtaking natural beauty away from the coastline, historical cities, huge racial diversity, varied and affordable gastronomy, vibrant and colorful culture, and the friendly people of Brazil, all together would be welcoming and appealing to investors eyeing the Brazilian property market.
The Brazilian property market has been progressing at a steady pa
Property Investments in Turkey – an Alternative to Spain and France
By: Mr wmhaven | 04/07/2008 | Real Estate
With its stunning beaches and pleasant climate that surpasses any popular European destination, and comparatively low cost of living, Turkey is considered a good alternative to France and Spain. The exceptional natural beauty, wonderful climate, well-known hospitality of the native population, and the good returns for investment offered by property prices, are quite popular among the tourists, particularly for British home buyers in the Mediterranean.
Keeping aside the low/high standard of livi
Property Classifieds
By: Martin Davis | 18/04/2008 | Real Estate
Traditionally, property classifieds have appeared in local newspapers or in flyers that are meant to advertise estate agents.
Get the Best Neighbors Money Can Buy for the Apartment Rental in Moscow
By: andrei sado | 29/05/2007 | Business
Many aspects of Russian buildings, in particular Moscow apartments for rent still not regulated. In particular, this concerns the classification of houses. “Despite the fact that we have the specialized organizations, any document, which determines the signs of the apartment in Moscow of different level, we do not have, counts the leader of the department of the new constructions of bureau of real estate “agent 002” Dmitriy Ivanov.
Auction Your London Property
By: Archy Ash | 25/04/2007 | Non-Fiction
A guide to London property and aution websites.
Why People are Choosing to Buy Property in Spain
By: Daniel Sendman | 06/12/2007 | Real Estate
With beautiful coastlines, relatively low property prices, long hot summers and a number of other attractions, there are a whole host of reasons to buy property in Spain.
Travel Advice. Book Odessa Ukraine Hotel or Rent Apartment?
By: Dompavlov | 11/05/2008 | Hotels
Book a hotel or rent central located apartment in Odessa Ukraine? This question is offered asked. Let’s review Odessa hotels and compare rates and services with Odessa apartments for daily rent.
Renting Apartment in Odessa Ukraine. Travel Advice
By: Dompavlov | 14/05/2008 | Hotels
Odessa Ukraine rentals. How to choose apartment in Odessa Ukraine. Travel advice.Necessary to read it before your book apartment.
Got a Question? Ask.
Ask the community a question about this article:
Q&A Powered by: 
Latest Real Estate Articles
One of the Suitable Places for Real Estate Investment: Faridabad
By: Matinez | 21/08/2008
Some of the renowned developers from Delhi and its neighboring cities, such as Eldeco Group, Ansals, Omaxe, Parsvnath Developers and so on are reaching Faridabad to start new high end projects that include integrated townships, shopping malls cum multiplexes, residential dwellings, group housing projects, IT parks and modern office spaces.
Jacuzzi Types and Styles
By: Ed Terran | 21/08/2008
You have decided to buy a Jacuzzi for your home. Have you done your homework to see what style you are going to purchase? If not, you may want to learn a few things about these oversized bathtubs before you actually purchase one.
There are bathtub, portable, steam room, hot tub,...
Some Support Talat and Some Do Not
By: Linda Cartwright | 21/08/2008
Efforts to solve the Cyprus issue are being evaluated in different ways in Turkey. While the Turkish Government supports the Turkish Government supports the Turkish Cypriot President Talat's efforts, the main opposition party (CHP) has criticized Talat after a long period.
Orders to the ambassadors from Babacan
Turkey's Minister of foreign Affairs...
Different Types Of Ceramic Tiles For Bathroom, Kitchen.
By: Ed Terran | 21/08/2008
Everyone has gotten into the craze of ceramic tiles lately. This is what they want on their floors, walls, and especially the bathroom area. When it comes to shopping for the type that you want installed, prepare yourself to be overwhelmed. The different types and manufacturers will astound you.
These tiles...
Bathtub Sizes, Types, And Styles
By: Ed Terran | 21/08/2008
Your bathroom can often be one the simple luxuries you enjoy every day at an affordable price. In fact, a well styled bathroom can add value to your house. A well selected bathroom is central to the utility and ambience of your bathroom, so think carefully before you buy one.
When...
New Range of UK Style Mortgages to be Expanded
By: Mark Smalls | 21/08/2008
The range of UK - style mortgages being offered to British and Irish citizens interested in buying property in North Cyprus is set to be expanded.
British company Lewis Finance says the scheme, which is already receiving a lot of interest from expats and people looking to buy holiday homes on...
Chennai's Expanding Real Estate Market
By: George Gonigal | 21/08/2008
Chennai is experiencing an extensive real estate growth in past one year. Chennai real estate developers are having a good business deal happening during this period of time.
Mortgage Bill by End of Year to Boost Property Market in Northern Cyprus
By: Linda Cartwright | 20/08/2008
Sungur: A Mortgage Bill has been proposed, for approval by the end of this year, in Northern Cyprus.
The plans are set to boost property market, and some experts suggest that the move will also benefit ex-pats.
A draft mortgage bill prepared by the Estate Agents Union has been presented to the...
More from Mr wmhaven
Property Investments in Turkey – an Alternative to Spain and France
By: Mr wmhaven | 04/07/2008 | Real Estate
With its stunning beaches and pleasant climate that surpasses any popular European destination, and comparatively low cost of living, Turkey is considered a good alternative to France and Spain. The exceptional natural beauty, wonderful climate, well-known hospitality of the native population, and the good returns for investment offered by property prices, are quite popular among the tourists, particularly for British home buyers in the Mediterranean.
Keeping aside the low/high standard of livi
Favorable Factors in Brazilian Property Sector
By: Mr wmhaven | 02/07/2008 | Real Estate
Brazil is a hot and sizzling country, renowned for its spectacular world-class football, colorful carnivals and wonderful music. Brazil offers breathtaking natural beauty away from the coastline, historical cities, huge racial diversity, varied and affordable gastronomy, vibrant and colorful culture, and the friendly people of Brazil, all together would be welcoming and appealing to investors eyeing the Brazilian property market.
The Brazilian property market has been progressing at a steady pa
Automated Directory Submission, Manual Directory Submission and Websire Optimization Services
By: Mr wmhaven | 06/04/2008 | SEO
Directory submission is one of the most important steps in web site promotion. This method helps to obtain a great number of incoming links leading to the promoted web site from the related pages.
|
|
Finance 
