Dubai rated as most attractive investment location

The real estate sector in Dubai seem to grow at a faster pace, with global investors, having rated Dubai, as the most attractive investment location, in comparison to Asia or Europe.

According to Prime Global Cities Index by Knight Frank, the London-based real estate consultancy, Dubai has been ranked 15th on the list, as prices fell three percent last year. Dubai has been ranked higher than Kuala Lumpur, Paris, Geneva, Shanghai and Singapore. According to the index data, prices dropped by nearly three percent in 2011.

Nairobi topped the list, followed by Miami, Jakarta, London and Moscow. In its outlook for the current year, the report was optimistic, indicating that investors would return to real estate sector.

The housing prices in Dubai will slip by a median five percent this year, showed the latest Reuters poll. Out of 11 respondents, four agreed that Dubai real estate prices will show stability this year, while three were of the opinion that they won’t stabilize until 2013 or beyond. Others believe that prices have already bottomed out.

The Royal Institution of Chartered Surveyors (RICS), in its study last week, reported that the demand for commercial property in the UAE has stabilized, as the rental outlook showed an upward trend.

Posted on 6/2/2012

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