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At the moment when every report about the performance of Dubai property market point towards positive growth of the sector, realtors are looking at present and future of the sector with great optimism. The improved results of Q2 compared to the year-ago-quarter indicating increase in the number of reality transactions, value of property investment and inquiries for property investment is leading the experts to believe excellent times once again for the sector in near future.
According to a Dubai based developer in the past six months, Dubai prime property has experienced a growth of around 6%. This shows luxury property sector in Dubai is heading towards recovery at a much faster pace than before. This is because desirable, well finished and maintained properties especially serviced apartments are becoming the demand of investors from Russia, India and Saudi Arabia.
The price of apartments which had been in pressure since 2008 is also finally showing strong spurts of growth. Sale price of apartments in Burj area, Sheikh Zayed Road and Dubai Marina have increased 8%-9% in the 2nd quarter compared to the first. The better performance of the sector during H1 has made it evident on everyone that worst has been over and recovery of the sector is gathering pace. Owing to great optimism spread about Dubai property sector, experts believe the sector to recover at much faster pace in the other half of the year. They also believe if this happens we will see Dubai property to experience boom once again somewhere in 2013.