Building regulations have helped make Dubai Real Estate a more secure property market with more end users completing on residential property. A good example may be the very first new residential tower on Dubai Marina since 2008 that has sold 90% of its units in only five months.
UK-BASED property investment company, Select Property, said that strong sales at the GBP71 million West Avenue job suggests that the Dubai property market is beginning to create strong interest again.
UK-BASED property investment company, Select Property, said that strong sales at the GBP71 million West Avenue job suggests that the Dubai property market is beginning to create strong interest again.
West Avenue offers 270 one and two bedroom apartments starting at GBP122,500 in addition to four luxurious penthouses using a price tag of GBP1.2 million.
Whereas prior to the decline in 2008 this amount was near 60%, suggesting that British purchasers remain mindful, interestingly, just 6% of the sales are to UK buyers.
The purchasers are generally folks seeking to reside within the property themselves or rent it out to Dubai residents. This is quite different to the typical buyer pre 2008, almost all of have been looking to take good advantage of accelerated capital appreciation.
The recent movement within the Emirate's property market could be credited to numerous variables, certainly one of which may be the strengthening of supporting infrastructure for stores, transport systems, and restaurants in crucial regions for example Dubai Marina, Business Bay and Downtown Dubai.
Building regulations and New buying also have helped the market to stabilize, providing protection to buyers, landlords and tenants.
According to Select Property, it is the location of West Avenue on the Marina, right along with the premium quality of the development that has caused the system to be so successful.
Before the crash in 2008 many investors were purchasing in Dubai just in the strength of the Dubai brand. Now there is an existing infrastructure and quite apparent property hotspots which include the Marina.
Whereas prior to the decline in 2008 this amount was near 60%, suggesting that British purchasers remain mindful, interestingly, just 6% of the sales are to UK buyers.
The purchasers are generally folks seeking to reside within the property themselves or rent it out to Dubai residents. This is quite different to the typical buyer pre 2008, almost all of have been looking to take good advantage of accelerated capital appreciation.
The recent movement within the Emirate's property market could be credited to numerous variables, certainly one of which may be the strengthening of supporting infrastructure for stores, transport systems, and restaurants in crucial regions for example Dubai Marina, Business Bay and Downtown Dubai.
Building regulations and New buying also have helped the market to stabilize, providing protection to buyers, landlords and tenants.
According to Select Property, it is the location of West Avenue on the Marina, right along with the premium quality of the development that has caused the system to be so successful.
Before the crash in 2008 many investors were purchasing in Dubai just in the strength of the Dubai brand. Now there is an existing infrastructure and quite apparent property hotspots which include the Marina.