Dubai has reclaimed its lost position in the list of World’s top most cities for real estate investment after the total volumes of investment has been raised by a striking 2174.3 percent in June 2014, announced in Cushman & Wakefield (C&W) report.
In a prior report, Dubai was ranked at 186th place, while due to heavy investment volumes, Dubai improves its rank to 39th place in the list of top 50 cities for investment showing the total volume of $3.68 billion (Dh 13.5 billion), stated by a consultancy firm.
As far as the prices of properties are concerned, they are growing at low pace in comparison with other 53 cities for valuable investment, which are still flourishing at a rocket pace all over the world.
In accordance to Knight Frank, UK-based real estate consultancy, apart from the increase in property prices turn down the pace, Dubai is still observed the growth of 24 percent in 2014, which is comparatively superior to other 54 cities in the world.
During the timeline of six-month (Q2 2014 to Q4 2014), the prices climbed by 7.4 percent. Whereas, during the three months from Q1 2014 to Q2 2014, the overall prices of property increased with a growth rate of 3.9 percent, said consultancy.
Dubai Land Department (DLD) reported, the total transactions volumes related to real estate sector have recorded up to Dh113 billion during the staring six months of 2014.
In global perspective, New York is dominating the list in terms of real investment volume depicts $55.4 billion, a growth of 10.9 percent annually, claimed in C&W report. The second position is embraced by London city showing the total property investment of 47.2 billion at 40.5 percent due to universal investment. Tokyo took a hold of third spot by registered a growth rate of 30.4 percent with total volume of $35.5 billion.
The essence of contest, development and alteration will declared the new global winners in forthcoming instances. However, the cities having huge real estate potential will always be the prime focal area for the investors. The cross-border investment is progressively making their roots in as a result of globalization, high confidence level and favorable financial availabilities, stated by the CEO of C&W, Carlo Barel di Sant'Albano.