I was just thinking that Dubai real estate has seen a lot of new laws being put in place. These new laws are not just for one stake holder but for all of them. The efforts by the government of Dubai seem to be genuine. How much do you people think this will impact the future course of Dubai's real estate prices and what will have its long term impact on Dubai's long term real estate demand ?
How do you people see the new laws emerging will affect the overall property situation in Dubai? Will Dubai real estate authorities be able to remain neutral in their stance ?
Al Khalid,
Dubai residential property did rose by 2% in the first quarter of 2010, so according to the fresh home price index which have risen upto 4% since the last quarter of 2009, this shows that the downfall of property prices is coming to an end. This rise in property prices is also the first annual increase since the UAE property market collapsed toward the end of 2008.
As today I have read about the new property law has given a control to home owners which is “Dubai Jointly Owned Property Law” which has given the permission to property owners to take an active part in property management, can chose their own services and also can select their own much disputed service fee.
So this is a wise step by the government I think and properties will gain back the same importance as before.
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