Saturday, July 30, 2011

Investors, Developers, Brokers, welcome property visa extension

According to latest Real Estate Regulatory Authority (RERA) survey on Dubai Land Department, the latest Cabinet decision to extend property visas for investors to three years, has brought back the confidence of agents, developers and investors.

The survey involved 300 respondents including property brokers, developers and investors, wherein, more than 95percent of investors and developers welcomed the decision.

The Head of Research in the Department of Real Estate Development, Hamda Al Shamsi, revealed that 94percent of investors have confirmed their satisfaction on the council's decision to extend the real estate visa to three years. Nearly 78.6percent investors have also agreed that this decision will help in narrowing down the demand-supply gap of real estate units.

Meanwhile, 83.3percent have agreed that the decision will help stabilizing the rental market in Dubai. Nearly 69.1percent investors who responded to the survey were confident that this new resolution will increase sale of properties in Dubai.

As for real estate brokers, the survey showed that 97percent of them are highly satisfied with the decision, while 89.3 agreed that the decision will narrow down the demand-supply gap of real estate units in Dubai.
The developers who replied to the questionnaire, indicated that nearly 95percent were happy and satisfied over the decision of visa extension to three years, while 85.7percent agreed that the resolution will help in narrowing down the demand-supply gap for property units.

1 comment:

Dubai Real Estate said...

Experts are confident that Dubai Property condition l is much better than others. There are several advantages to owning property in Dubai. That is why different communities’ investors are coming back in Dubai for making investment. According to this article this is good news for investors, that Dubai government has been soften their visa extension rules for foreigners.