Since the 2008 housing market crash, the Dubai government has introduced new regulations to stabilize the real estate market and balance out the power between landlords and tenants. The post crash-recovery inflation has caused property prices to increase. Housing and utility costs have jumped 5.1% since 2013. In Dubai and Abu Dhabi, the annual real estate price increases were restrained, at 15% last September – down from 35% in March 2014. It is time for real estate investment in Dubai.
Dubai was recently announced best city for real estate investment returns. A new study from Douglas Elliman and Knight Frank invested $1 million in prime residential property in 2010 through the second quarter of 2014. Dubai’s ROI (64%) was higher than New York, London, Miami and Hong Kong. Real estate investors are no longer weary to invest in the market. And, since Dubai won the right to host the 2020 World Expo, investments have been on the increase.
This is our round-up of recent investments in the real estate market in Dubai.
Palma Holdings to launch $1 billion real estate projects in Dubai
Palma Holdings announced earlier last week that it will launch two new high-end real estate projects worth Dhs3.7 billion. The first project is a luxury residential project in Palm Jumeirah and set to start in early 2015. The second project, another luxury residential development will start in the fourth quarter of 2015.
G&Co launches $762 million Millinium Park in Dubai
The residential community project is worth an estimated $762mn. It will offer 323 square meter semi-detached villas featuring four bedrooms and the villas will have a starting price tag of $1.18mn.
Dubai restarts 43 projects worth over Dhs10 billion
At least 43 stalled projects worth over Dh10 billion have been revived by the Dubai Land Department (DLD) through two of its real estate project revival initiatives, a senior DLD has revealed.
In an earlier move, the municipality of Dubai has removed the 7%-increase rent cap and replaced it with a layered incremental structure that depends on property market rates.
Rentals in UAE is a social app for rentals in Dubai and the UAE. It is a powered by Dubai-based www.melltoo.com with 60,000 downloads and growing. “Rentals in UAE” ranks 2nd for Dubai and UAE on the Google Play Store.
New Real Estate Investments in Dubai
Occasionally, we will share new real estate investment news in Dubai and the UAE througout our blog. This is a round up for investments announced in November 2014