New measurement guidelines mooted for Dubai property

22/07/2011 - Dubai Property News Posted by Neil King
New measurement guidelines mooted for Dubai property

Property investors in Dubai look set to benefit from a planned move to standardise how homes are measured.At present, the system for measuring the size of properties in the emirate is relatively haphazard, with the National noting that some developers may take balconies and even communal common spaces into account when advertising new homes.However the paper has now revealed that the Dubai chapter of the Royal Institution of Chartered Surveyors is spearheading efforts to persuade the Real Estate Regulatory Agency to create a fixed set of guidelines for measuring properties in the emirate.It is anticipated that, if these efforts bear fruit, then a system similar to that already in place in the UK, whereby homes are measured by the area of 'liveable space' they boast, will come into effect within the coming months.This comes as the investment bank Rasmala reports that property prices in Dubai could be set to drop by as much as 20 per cent over the next couple of years.