Friday, August 01, 2008

Dubai ranked as most transparent realty market in the region

With more investors across the world opting to shift their focus on markets least hit by credit crunch, and thereby seeking to enter Gulf markets, the volume of property sales in Dubai is set to rise, confirms a leading global property investment expert.

Dubai has registered the greatest improvement in real estate transparency globally during the past two years, recording a surge of 55.2 percent in property deals, and is set to hit Dh.717bn in 2008 as against Dh.462bn in 2007.

According to Managing Director of Jones Lang LaSalle (JLL), Blair Hagkull, a leading real estate investment and advisory firm, Dubai, with credit crisis hitting real estate markets of Europe and US, investors are now targeting Gulf markets, particularly Dubai.

Speaking to reports during the launch of a new study on "Real Estate Transparency Report 2008" for MENA region, he revealed that Dubai has been ranked as the most transparent realty market in the region. Dubai has been ranked a transparency index exceeding other budding economies such as the BRIC (Brazil, Russia, India, China) markets.

JLL is an investment adviser with a track-record of $200billion worth projects in MENA. It has 180 offices worldwide, and has worked in 25 countries in the MENA region. The JLL Transparency Index covers 82 markets, and is rated against five transparency tiers. About 33 questions are designed to measure transparency objectively put into each market.

Transparent markets are those that are open and easier to carry on businesses with transparency maintained in transaction processes, market fundamentals, performance measurements, and the regulatory and legal environment.

1 comment: said...

The Real Estate Market Starts Climing Again

During the past couple of years we've all seen a tremendous change in real estate in the country.
This change actually has spread all over, businesses loosing money while gas prices are extremely high.

The real estate market has become a big issue for all of us out there, we've seen many homeowners loosing their homes and struggling to find a home to rent because of their credit.

What happen to us?
Remember the bubble 4 years ago?

That's exactly the answer, from years of prosperity and times of spending, traveling and investing in stocks and real estate, we are now experiencing another bubble but this time the bubble is going in a different direction and we are wondering what to do.

So real estate was going down and it's still going down, some economists say that it will get stable in 2 years from now.

The sellers market became a buyers market, and today we all know it by now.
Investors and renters that saved their money for better days to buy to make money are in the market today, that's making the real estate market busy.

Real estate agents that learn how to change with the market also learned how to make money from the changes, these real estate professionals are making lots of money and while we are all struggling for business they're making the business.

Today you can get a home directly from the banks for almost half the price.
I've seen homeowners that are so desperate that they're willing to give their homes for free, just come and take their loan and continue their payments.

On the other hand, investors are looking to buy homes in bulk, they can get homes $.50 on the dollar.

Some banks like bank of america and countrywide are selling hundreds of homes in bulk to investors at a discount prices.

So real estate agents are busy getting hundreds of listings and reo's from banks, then they're selling these homes at a low price to future homeowners and investors.

It's definitely a buyer's market like we had in the early 90's, so if you're an investor or a homeowner.
This is your time!