From all the talk about the U.A.E. property market being too volatile to invest in being rattled about, it would be a good time to suggest turning a deaf ear. There is no reason to panic, the government is doing its best and then some more.
One of the more recent steps is the formation of a committee to tackle the influence of the economy on the Dubai property and real estate sector. The government plans to install a pause or at the very least, a limit in property supply, so that future Dubai real estate investments do not face major devaluation.
Various developers are getting into the picture as well and are putting in their own efforts to further this cause. The distressing job and pay cuts notwithstanding, certain developers and even Dubai real estate consultants are looking at favorable payment and mortgage terms for the investor.
Another instance of governmental concern is the strata laws, which aim at a more transparent system and encourages a high return on investment. Peter Crogan, CEO of BCS Strata Management Services explains, “Strata law is an assurance from the developer on unit delivery and transparency in dealings as well as a reaffirmation of the buyer’s right to know valuable detail and information. This is international best practice and the integration of this into this country’s real estate sector will help lift the mood in the market and build confidence and attract foreign investment.”
In light of such measures, it is unwise to assume that the government is not paying attention to Dubai property and investment. See how these measures can work for you with help from MEREC Dubai.
Image Courtesy: Flickr
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