Apartment for Rent in Dubai rising prices

apartment for rent in dubai

Dubai’s soaring home prices, underpinned by a much-improved economic climate and robust need, are probable to carry on their uptrend, but no bubble is within the horizon, industry experts claimed.

After a serious drop in costs due the worldwide economic downturn in 2009, Dubai’s property market commenced to recover in 2011. Previous year, rates for apartment for rent in Dubai went up to 38 %. Rents also amplified by 20 percent for studio apartment and for villas seventeen percent. Continue reading

Dubai Property Market adopts new rules to stop Price Bubble

Dubai property market

Dubai’s federal government is working on new rules to protect Dubai property market and foresee any abnormal increase of housing prices, a senior official reported on Tuesday.

The bursting of the home bubble in 2009-2010 triggered costs to plunge by 50 %, pushing Dubai property market close to a personal debt default. The market is recovering strongly this year, with apartment rates up about twenty % from the 12 months earlier, and also the Worldwide Financial Fund has warned with the hazard of yet another bubble. Continue reading

New Rental Dispute settling Centre announced for Dubai

Dubai Real Estate

Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum has issued a decree to determine a completely new rental disputes settlement centre within the emirate as section of Dubai’s Land Division.

The centre will work to “enhance authorized treatments that facilitate the settlement of rental disputes”, described formal news agency WAM.

Under the new mandate, the centre will deal using the settlement of all rental disputes for Dubai real estate Continue reading