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Further price hikes forecast for Dubai

Posted by: In: Real Estate 31 Mar 2014 Comments: 0 Tags: ,

Residential prices in Dubai will increase 10-15% this year, says HSBC.

After Dubai saw a dramatic price hike of over 30% last year, HSBC Global Research have predicted a further 10-15% growth in 2014 with “relatively stable” net yields of 4.5-5%.

Prime apartment prices are likely to be the safest bet for big increases, with hardly any completions set for this year – in comparison to a healthy new stock of villas.

Most experts are optimistic about the sustainability of Dubai’s current boom. Jones Lang LaSalle have labelled the current market as “smarter” than the one preceding the disastrous 2009 crash, while HSBC noted in their report that they expected the trend of growth to continue for “at least” another two years.

However, global bank Citi warned in their recent report: “Dubai’s dynamic economic and financial landscape are fast-moving and the circumstances of the real estate market and the wider economy could change in short order.”

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Source: OPP



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