Dubai puts London in the shade

10/07/2012 - Dubai Property News
Dubai puts London in the shade

The Dubai property market once attracted speculators interested only in flipping their purchases for the maximum gain in the minimum time. Now, as prices bottom out in the emirate, the bruised and battered sector is catching the eye of a different kind of investor. The buoyant rental market in Dubai is creating attractive yields for buy-to-let owners, with current returns even trumping those of central London - one of the most established buy-to-let markets. But the window of opportunity may be closing fast as rebounding prices eat into potential rent yields.

The emirate's prime locations recorded more price increases last month, with selling prices for mid-range villas such as those in Arabian Ranches and Victory Heights surging 18.5 per cent compared with a year earlier, according to data from Cluttons.

That represents the biggest year-on-year increase since the collapse of prices in late 2008.

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