New Survey Shows Confidence in Real Estate Market

27/07/2011 - Dubai Investment News
New Survey Shows Confidence in Real Estate Market

Confidence in Dubai’s real estate market is growing, a new survey by RERA – Dubai’s Real Estate Regulatory Authority reveals. The report was carried out following the government’s decision to extend real estate visas for investors from six momths to three years. More than 95% of investors and developers have hailed this as a positive step, with 78.6% confident the decision will close the gap between supply and demand for property in the emirate. The RERA survey, targeting 300 people, also revealed that 79.2% of investors feel the ruling will help to stablise the rental market, while 73.9% of those feel it will boost the overall demand for real estate. The news is a positive step for those thinking of investing in Dubai real estate. According to reports, those who buy property worth Dh1 million or more will be able to avail of the new three year visa.