Real State Market No Cause For Concern – Dubai Land Department (DLD)
The Dubai Land Department (DLD) has again denied the news arousing, that the real estate market in the emirate was slowing down, stated that that the sector is “going strong and dynamics are in favour”. The prices are staying firm and there is no need to worry regarding oil crisis, weaker currencies and instability in Yemen and Syria, as it has no major effect on the real estate market in Dubai and nearby areas.
As continued low oil prices have seen many economies and investors around the world having to negotiate lean periods, and a re-surging in the dollar means the price value of real estate in middle east has indeed become a bit expensive for many international investors around the globe. Dubai, being an international city, it was not immune to the impact of the global economic slowdown over the past one year.
The reason for the low transaction, we believe might be because of two major factors. First the extraneous international factors discussed above, and secondly, might be the faulty figures of 25,000 new units entering the market released by some analyst earlier in the year, left immense effects on the investor sentiment, with many investors holding back investment over the span of the time for fears of price declines due to oversupply in real estate market.
We hope the real estate investors will now have a clean & a clear picture of the market and are certain that Dubai realty will be well & will be on the way to recovery in the near future.
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