If you are one of the many Brits who invested in Dubai real estate, only to subsequently find the value of your property massively under water, then this may come as good news.
Land and property transactions in Dubai increased by 21% in the first half of this year compared to the first half of 2011, reaching AED63bn ($17bn, €14bn).
According to the Dubai Land Department’s director general, Sultan Butti bin Mejrin:
The real estate market in Dubai has shown high levels of flexibility in meeting investor requirements and trends during H1, especially the new investors looking to benefit from the price correction that emerged in the past two years.
Finally, the director general also reportedly said prices had increased in the past few months due to high demand for buying lands, villas and flats in certain areas of Dubai.