Good news for the investors as the Dubai property rates are still dropping tremendously
Dubai, U.A.E. – 29 Nov, 2010 – It since 2008 Dubai property rates are falling down drastically. The cost of Dubai apartments have lowered. Dubai real estate prices declined 6 percent in the third quarter while the United Arab Emirates’ biggest construction firm, Arabtec Holding PJSC, reported 96 percent drop in profit and Deyaar Development PJSC suffered a loss. Dubai apartments which were sold for high prices now their prices have come down. The investors all over the globe are trying their hand out to get best home in Dubai.
Prince Alwaleed has predicted that Dubai’s depressed property prices will take several more years to hit bottom and start a recovery because the market is still oversupplied. As the rates in Abu Dhabi are high compared to Dubai, investors are interested in Dubai property. The areas that are worst hit by the rental declines are in Dubai Marina, Jumeriah Lake Towers and The Views. Even Dubai’s rental real estate market is seeing prices fall as an oversupply sees landlords of new units undercutting market rates. This strategy has seen rents fall by up to 38% in some of the emirate’s most popular residential areas. The reason behind this downfall in property rates is because of many new constructions which were under progress have been completed. The reports say that it will take almost 20 months for the property market to get stable.
As the property rates are declining more and more investors are investing in Dubai property. AJ Group is one real estate company who will help you find the best property in Dubai. The company is known for providing its best service to their investors around the globe. AJ Group has range of services. The professionals at AJ Group have solutions to all the doubts regarding buying, selling and leasing.
For detailed information visit us at http://www.ajgroup-me.com
Contact Details –
AJ Group
Office No. 202, 2nd Floor, Al Safa-com Building,
Khaleed Bin Waleed Street, Bur Dubai
P.O. Box 213612, Dubai, United Arab Emirates
Tel: +971 4 396 6562
Fax: +971 4 396 6486
Email: [email protected]
Website: http://ajgroup-me.com/
