Property Price in Dubai
A friend recently brought up the sudden surge in property prices in Dubai, expressing concerns about investing due to the rapid increase. It was a valid point, considering the influx of speculators aiming to capitalize on short-term gains. Indeed, the rise in property prices can be attributed to increased demand and reduced supply, which is a common factor behind price increases. However, it's important to scrutinize the market from a different perspective. While manipulating property prices may be relatively easy, the rental market presents a different story. Rental rates have also witnessed an upturn, and unlike property prices, the rental market is not easily manipulated. Rental demand can only grow with an increase in population, which is typically accompanied by economic growth. Another factor contributing to the rise in rental demand is the recent mandatory requirement set by RERA (Real Estate Regulatory Authority) for tenancy contracts to be registered through Ejari (For mor