Monday, February 22, 2016

A country of superlatives, the United Arab Emirates is one of the Middle East’s fastest growing nations. Its futuristic vision has made it possible for the city to conceive of and complete projects ranging from the world's tallest building, an island in the shape of a palm tree and the upcoming, world’s tallest Ferris wheel.

he UAE is also a city of contradictions in a sense. While the country is making strides to preserve its cultural heritage, it is also embracing new age technological advancements. Consequently, working and living in the UAE, particularly its key emirates, Dubai and Abu Dhabi, can be an exhilarating and rewarding experience given its strategic location and dynamic tax-free lifestyle.

Being the most searched cities in the UAE for real estate, Dubai and Abu Dhabi have a lot to offer savvy investors and end users. From budget and mid-range to luxury properties, the emirates feature some of the world’s finest trophy homes.

Experts reveal that this year is expected to be one of maturity and solid consolidation for Dubai properties and Abu Dhabi properties.  As for Dubai, it has been a buyer's market for a while now. With prices dipping and developers offering attractive payment plans, the outlook for the market is positive. Furthermore, while prices of Dubai properties have dipped, the rental market has remained strong given the rise in expat population and number of jobs with all the infrastructure investments planned around the mega Expo 2020 event. So, while it is true that the market is experiencing a slowdown and a further dip in prices may be inevitable, it’s important to note that it is a phase of healthy correction. Further, given Dubai’s ongoing investment in infrastructure, 2016 is a stable year for Dubai properties.

As for Abu Dhabi properties, numerous projects such as Mamsha on Saadiyat Island, Ansam, Mayan and West Yas on Yas Island and Al Hadeel on Raha Beach are expected to come online next year. The emirate offers a diverse unit mix with most developments less than five years old and are popular with tenants.

The real estate market in the UAE continues to mature as we see increased protections to investors with the introduction of RERA regulations giving it a layer of solid credibility and stability. Moreover, the country’s population is growing, further raising the demand for homes in the market.

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