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The Dubai property sector is showing strong signs of recovery following the 2008/2009 crash that hit Dubai investors during the international financial crisis. Citing a report from property management company Asteco, Alicia Buller, Editor of gulfbusiness.com said “the real estate market in Dubai is finally showing signs of a return to positive growth, the market is indicating that these increases in property values are being driven in communities populated by expats, reinvigorating investment in the United Arab Emirates.”
Emaar’s Arabian Ranches is the top performer according to the report, the villas saw prices rise 24%, an increase of nearly 2,000Dhs ($544) per square meter over the comparison period in the report, which took the average second quarter sale prices in 2011 and 2012 of villas and apartments to assess the relative health of the suburbs in Dubai. The villas in the Springs (part of the Emirates Living community) and apartments in Dubai Palm Jumeirah, traditional expat communities, saw property prices 19% and 17% respectively.