More regulation to boost transparency within Dubai’s real estate industry kicks in as the new Dubai rent committee begins operations today.
The centre will handle all disputes between leaseholders and tenants located in Dubai, including its free zones and aim to resolve them within a maximum of 30 days.
As the emirate’s property prices continue to rise, government policies are streaming in to keep prices from spiraling.
At propertyfinder, we have seen a 50% increase in visits and 70% rise in the number of unique visitors to our site in quarter 3 as compared with quarter 1 of this year, going on to show the increasing interest in Dubai property. Investor confidence is gushing in, the population’s rising, more people are buying property and banks are lending cautiously.
With the decision on the 2020 Expo bid just days away, it will be interesting to see how the rest of the year pans out for Dubai’s property market, setting the stage for 2014.
