Dubai villa prices increase by 3% in Q1

18/05/2012 - Dubai Property News Posted by Neil King
Dubai villa prices increase by 3% in Q1

The cost of villas in Dubai increased by three per cent in the first quarter of 2012.This is according to a report released by the global property consultants CBRE and reported by Property Wire. It highlights how the emirate's housing market is recovering and means anyone considering a purchase may want to complete the deal sooner rather than later in order to get the best price possible.One-bedroom flats rose in value by two per cent in this time period, while three-bedroom properties also increased by the same amount. Emirates Living, Arabian Ranches and Palm Jumeirah were all picked out as prime locations and prices in these areas are expected to stay strong for the rest of the year.However, over the next 12 to 15 months there could be a shift in the market as Jumeirah Park, Al Furjan and Jumeirah Golf Estates all continue to increase in popularity. On the plus side, this means anyone buying in Dubai will have plenty of options to choose from."Dubai's CBD is expected to see further improvement in occupancy levels due to limited new stock, the availability of fitted office space, increasingly competitive lease rates and landlord incentives," the report stated. When it comes to investing in foreign property, people need to make sure they do plenty of research. According to Liz Rowlinson, editor of A Place in the Sun Magazine, it is not a move that individuals should make lightly."You have to be very precise about why you are investing, realistically what your capital appreciation is going to be and about the rental returns," Ms Rowlinson remarked.One issue to consider ahead of relocating is transport infrastructure. Ideally, UK buyers should look at houses with great metro links, so they can access the buzzing nightlife that Dubai has to offer with ease. This is especially true of young professionals who are keen to enjoy themselves after a hard day's work.