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UAE real estate after facing great turbulence is now heading towards recovery. According to Oxford Business Group, Dubai real estate is posting solid positive growth over the last few months. This is a clear indication that property prices in Dubai have started to get back on their original track. Increase in mortgage purchases, online queries made by investors about UAE property and demand rising in certain areas show that worldwide investors are showing good confidence on the sector and they are eyeing it once again for investment.
According to a new report of Friends Provident International, real estate in the UAE is emerging once again as the preferred asset class for investment. The score of real estate preferred for investment stood at -2 in a research conducted by it during 2nd quarter of 2010. Since the conditions have been improved now, the new score is 17, which shows the highest ever preference to invest in UAE property.
According to latest news, price of property in Dubai during the month of May inched up by 1.42% as compared to the previous month of April. This is because several steps are being taken by the government in collaboration with the concerned parties to uplift the demand of UAE real estate and make it attractive once again for the investors. In this regard, Banks are announcing easy mortgages to the UAE nationals as well as foreigners, landlords are providing various incentives to tenants and developers are improving infrastructure of their ongoing projects.