Dubai property prices start to move
Following a period of inactivity the price of residential property in Dubai is starting to lift much to the relief of industry commentators.
Experts believe the results from the first quarter of 2012 point toward a more progressive market that will continue to build as the year develops.
Data supplied by global property consultants reveal the cost of most types of property in Dubai increased during the first twelve weeks of year; the price of villas had increased by 3 per cent and the cost of one bed apartments had appreciated by 2 per cent as has three bedroom apartments.
Based on first quarter results experts forecast a strengthening market in several locations including Arabian Ranches and Palm Jumeirah.
Completed developments in several locations will result in a growth of villa stock to satisfy increasing demand.
Other results show that rental growth also expanded during the first quarter for the first time in three years.