Dubai Marina property prices are quickly heading towards recovery!

Dubai Marina, the most sought after property development in Dubai, is continuing its trend of supporting Dubai real estate sector through regular price increases of its property. As per the results of Q1 2012, rentals in Dubai Marina inched up by 10.4% during the quarter. But what has astonished real estate agents in Dubai is the sale of apartment towers at quite higher than the predicted price.

According to latest news, Al Sahab Tower 1 in Dubai Marina has been sold at a price 45% over the bid price. Al Sahab Tower 1 is a high quality apartment tower, which is 919sq feet in size and was under the hammer recently. It surprised every one by selling at quite high price than what was expected for it. Besides that, another tower with the name Amwaj Tower 4 has been sold in an auction at a price 20% higher than its reserve price.

The apartment towers have been sold at quite good rate because Dubai Marina reported total 974 transactions that were registered during Q1 2012. Such large numbers of transactions have led buyers and investors to think of better returns in the near future and they have started investing in the area. Besides that, being home to the tallest residential tower including Princess Tower and Impressive Torch, Dubai Marina is known worldwide and every one wants to own a property there.

via Dubai Marina property prices are quickly heading towards recovery!.