Dubai is 2nd hottest property market.

Investors must get their dream homes before these get priced out of market.

The city is truly bouncing back as Dubai has been ranked as the second hottest property in 2012 just behind Hong Kong, according to a report. The report ranks real estate markets in 2012 based on average house price growth.

While house prices shot up by 23.6 percent in Hong Kong, in Dubai , the average house prices rose by 19 percent in 2012. The Dubai residential market has experienced increases based on the rising demand from relocations as well as new tenants, and there is a noticeable demand for prime real estate. It is interesting to note that Dubai real estate prices and rents witnessed their 17^th consecutive monthly increase in April which indicates steady recovery in the sector and highlights the return of investor confidence.

The price recovery in prime properties that started months back is now spreading to second-tier communities. In spite of the new supply, investor confidence remains strong which has resulted in many master developers accelerating project launches. The same report also pointed out that the sale prices rose even faster than rental values. This is an indication of the fact that an investor who bought a unit in early 2012 would have already added to its value within the past one year.

Strategically located between the East and West, Dubai is a hub for international business and is, thus, attractive for investors as well as second-home owners. This accounts for the demand for Dubai property from investors across the globe.

Apart from local citizens,there are also investors from India,Pakistan and other Asian and European countries as well as the GCC. The scope,thus, has broadened for Dubai developers. It is advisable for investors to make the best use of current market conditions and get their dream home before they gets priced out of the market.

Dubai Real Estate Tips

·       Dubai house prices rose by 19% in 2012 compared to HK’s 23.6%.

·       Relocations, new tenants contribute to rise in housing demand.

·       Investor confidence strong resulting in many project launches