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If you haven?t been monitoring Dubai?s property prices of late, you might be in for a bit of a surprise. Real estate prices in some of the more popular residential communities surged by 30 per cent or even more in 2013. Even newly delivered projects are gaining momentum, and the off-plan property market is back from the dead.
Yes, all that and more happened in 2013, and property prices in 2014 have continued gaining strength never mind the revised mortgage regulations coming into play, which mandate a lowering of the loan-to-value offerings by banks to both resident expats and UAE nationals in a bid to cool down the property market.
The Dubai property market, however, continues to outperform its global peers and the reason behind this is that it is seen as a not just an inflation-proof store of value, but also a great asset for higher return on investment.