Apparently, it seems as though Dubai real estate has lost its charm and it has no attraction for property buyers.
London, England -- (SBWIRE) -- 10/17/2011 -- Needless to say that Dubai real estate is a recession hit sector but there are reports that show different regions within Dubai, which are not affected by recession one bit. The properties in those areas are still in high demand and one such area is Dubai Marina. Dubai Marina properties have been sparking interest of local as well as international investors. The data collected by Bayut team has confirmed this upward trend.
According to the real estate experts on Bayut panel, the real estate slump is primarily observed in less developed areas of Dubai. Moreover, this recession has even affected Dubai rental properties in these regions and not just buying and selling of properties. Abdul Hakim, the real estate expert and a senior member at Bayut has shared an insight of the current market situation. He stated, “Dubai Marina is one such area of Dubai where major and consistent real estate activity has been observed over the years.”
It is also noticed that high profile investors from all over the world are taking interest in buying and taking Dubai rental properties. However, they show special interest in Dubai Marina properties because these properties are well built and are maintained keeping in view the high international standards of commercial and residential properties. This is the major attraction of this area and a few other ones. After recession, the general trend of the landlords and developers is that they have stopped all the renovation tasks and even left the incomplete properties as they were. Therefore, people have lost interest in dealing with them. While, the property owners of Dubai Marina properties reacted differently to the crisis and resultantly, their properties are most searched locations for the time being.
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The site is one of Dubai’s prime real estate portals connecting people with the local realtors, investors and landowners. The site is regularly updated to include properties for sale and rent across the United Arab Emirates in general and Dubai in particular.