Dubai's economy is booming, tourism is increasing and population is growing. So, we also expect property prices to continue to grow.
Dubai (PRWEB UK) 30 January 2015
Openshore Property conducts regular surveys on investors who are looking to buy or have purchased property in Dubai. A recent survey conducted in early January 2015 shows that despite falls in Dubai property prices in 2014, the majority of investors think that prices will rise in 2015.
Dubai remains the most favoured place in the Middle East for investment property purchases by buyers from all over the world due to its desired location, high rental yields, and tax free status. In the Openshore Survey, 53% of investors surveyed think that prices will rise whilst only 17% think that prices will fall in the next 12 months. 30% think there may be no significant change or are not sure how prices may change.
Craig Hamill, senior Consultant at Openshore Property, explained “Prices grew too fast in 2013 and the fall in 2014 was a correction relating to this. It is interesting to see that most investors like us think that the fall is likely to be short-lived as Dubai's economy is booming, tourism is increasing and population is growing. So, we also expect property prices to continue to grow at a steady rate this year.”
He added, “Many investors, however, will be worried by the price fall and may wish to sell their properties at a low price to exit the investment. Others will see this as an opportunity to get a good deal. We expect transactions (which have fallen significantly in 2014) to increase again in 2015.”
About Openshore Property
Openshore Property is a UK company that helps investors from all over the world purchase properties in Dubai. The company specializes in low cost investment apartments that deliver high rental yields and good capital growth. Properties are fully managed and in many cases, up to 25% of the property prices can be paid by the guaranteed rental income.
Sister company in the Group – Find UK Property – provides similar investment properties in the UK whilst partner company Sandcastles, based in Dubai, provides marketing and portal services to Dubai-based estate agents.