Survey reveals positive outlook for Dubai property sector

26/07/2011 - Dubai Property News Posted by Neil King
Survey reveals positive outlook for Dubai property sector

Investors looking to increase the size of their Dubai portfolios could be among those encouraged by the findings of a recent report.Research published by the Real Estate Regulatory Authority (Rera) of the Dubai Land Department has revealed the market is experiencing improved levels of confidence, Emirates 24-7 reported.According to the study, almost 95 per cent of investors and developers have welcomed the recent decision to extend investor real estate visas.Hamda Al Shamsi, head of research in the Department of Real Estate Development, told the news provider: "94 per cent of investors confirmed their satisfaction with the council's decision to extend the visas of real estate investors for a period of three years."More than 83 per cent claimed the decision will stabilise the rental market in Dubai and a further 69.1 per cent believe the move will mean a rise in the number of property sales seen in the emirate.The news comes after Elaine Jones, chief executive officer of Asteco Property Management, claimed that Dubai's property market is benefiting from increased interest from buyers in Egypt, Libya and Bahrain.