Dubai’s rising house prices, underpinned by a much-improved economy and strong demand, are likely to continue their uptrend, but no bubble is on the horizon, industry experts say, according to Gulf News.
After a severe decline in prices and demand during the global recession in 2009, Dubai’s real estate market started to recover in 2011. In the past year, prices of apartments had gone up by 38 per cent. Rents also increased by 20 per cent for flats and 17 per cent for villas.
Analysts have said that the recent price movements have been driven by real demand, as well as by stronger economic fundamentals, the newspaper reported.