Dubai-Amlak
\n Saudi Arabia ranked second in the region as voted by 150 investment firms across the Middle East as the best real estate market; with confidence in Dubai's real estate market improving, it has become the Middle East's favorite market for real estate investors, significantly in the last 12 months, according to Jones Lang LaSalle, and the increased confidence in the emirate's real estate market has been accompanied by a marked increase in both sale and rental prices, according to Esteco.<\/p>\n
Investing in real estate
\nJones Lang LaSalle surveyed 150 investment firms across the Middle East and found that real estate remains a desirable asset class for investors in the region, with more buyers than sellers in most regional markets. The report noted that Dubai has regained its position as the region's favorite market thanks to a number of factors including recovering prices and rents, political stability, improved economic fundamentals, and increased transparency compared to other regional markets.
\nSaudi Arabia ranked second in the survey, as its real estate market benefits from a high local population, rising energy prices and political stability that has insulated the country from social and political turmoil across the region.
\nAbu Dhabi came in third, with respondents expressing a desire to rebalance their portfolios by selling non-core assets and buying real estate that is more in line with their long-term investment criteria. Some 50% of those surveyed said they are willing to sell some of their assets, while seeking to acquire more suitable products at the right price.
\nReal estate market
\nCraig Plumb, head of research at Jones Lang LaSalle MENA, said: \"Overall, the Middle East's real estate market is more optimistic this year, thanks to improved economic performance and stability. But little money is being invested in real estate from outside the region, and regional investors still dominate the market overall.
\nThe report noted that Middle Eastern investors continue to be the most prominent in global real estate, purchasing USD 5.3 billion of real estate outside the region in the first nine months of 2012 (more than the entirety of 2011).
\nLondon is the top destination for Middle Eastern investors, who bought $2.3 billion worth of property in the UK in the first nine months of 2012, more than double the $1.2 billion invested in the same period in 2011.
\nMiddle East Real Estate
\nReal estate remains a desirable asset type for Middle Eastern investors, with many buying rather than selling in most markets. The recovery of the real estate market and the scarcity of high-quality properties in the market has contributed to increased demand and prices for some properties in Dubai have reached millions of dirhams.
\nPrices are skyrocketing in locations such as residential developments on Palm Jumeirah, Emirates Hills and Downtown, says Tom Bunker, investment sales consultant at Better Homes, who explains that these investments are because people are tired of putting their money in banks, where it earns little interest.
\n Matthew Green, CBRE's director of research and consulting in the Middle East, said the relative scarcity of high-quality real estate is a key factor in the high prices for this type of property.
\nHe said: A lot of the new real estate units available in the market are in secondary locations such as Dubailand and Jumeirah Village. In mature areas such as Emirates Hills or Palm Jumeirah, there is not a lot of empty space. Thus, the supply of new luxury properties is limited, and I think that's why there has been more growth in luxury real estate in the market.
\n\u201cBut at the same time, luxury properties here are not comparable to those in London, New York or Singapore, and are considered good value by global standards.
\nReal estate via \u201conline\u201d
\nAccording to a real estate report by propertyfinder.ae, the number of online searches for properties valued at AED 10 million or more increased in 2012 compared to the previous year.
\n\u201cThe rise in the number of searches for luxury properties in the last 12 months is not only an indication of increased liquidity in the market, but also increased confidence in the market among investors in the country,\u201d said Renan Bordeaux, Managing Director of propertyfinder.ae.
\nIn terms of who the investors are, Green said they are coming to the market from China, as well as other parts of the Gulf, Europe and South Asia: \u201cWhile a lot of investment is coming from within the region, we are seeing a rise in the number of Asian investors, even though they were not a major investor in the previous real estate boom.
\nSo it's an interesting phenomenon.\u201d A quick search on propertyfinder.ae shows that more than 100 homes for sale in Dubai have been registered with prices starting at Dh40 million or more, including the \u201cpalace\u201d on Palm Jumeirah with prices starting at Dh260 million.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> 3<\/span> Minutes<\/span><\/span>Dubai-Amalak Saudi Arabia ranked second in the region as voted by 150 investment firms across the Middle East as the most preferred real estate market; with confidence in Dubai's real estate market improving, it has become the preferred market for real estate investors in the Middle East, significantly in the last 12 months, according to Jones Lang LaSalle (JLL), and the increasing ... Read more<\/a><\/p>","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[119],"tags":[],"class_list":["post-1147","post","type-post","status-publish","format-standard","hentry","category-real-estate-finance"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","trp-custom-language-flag":"","event-thumbnail":"","event-medium":"","event-large":"","event-hero":""},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u062a\u0645\u0648\u064a\u0644 \u0639\u0642\u0627\u0631\u064a<\/a>","tag_info":"\u062a\u0645\u0648\u064a\u0644 \u0639\u0642\u0627\u0631\u064a","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/1147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=1147"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/1147\/revisions"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=1147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=1147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=1147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}