Dubai is one among the top 5 destinations where real estate business rules the market and where real estate is a predominant factor that decides the GDP of the nation. But the market position is something that keeps fluctuating and the same is happening with the East Asian Countries. For the past couple of years, Dubai has been experiencing a dip in the real estate business. The prices sharply declined and the traders, dealers, and agents of the real estate were facing an adverse situation. Any economy would face fluctuation, it all about how quickly it recovers. So let’s have a look into the past, present and expected future position of Dubai and the East Asian countries in relation to real estate business.
A look into the past:
The present situation in and around the Arab countries seems vulnerable. However same was not the case prior to 2014. Dubai which is a global leader as far as oil and other related products are concerned and was equally successful in real estate business. Due to the contribution of real estate business to the GDP of the nation, Arabian countries outgrow other global countries and stood in the top 5 destinations across the globe. But later to 2014, things are not turning out as expected.
What is Dubai witnessing at present?
The current scenario is not too favorable, in the Arabian markets to make potential investments. For the past couple of years, the real estate sectors were showing a downward trend and the same was expected to continue throughout 2017. However, now the signs are conveying a different meaning. There seems to be an upward trend in the real estate market and investors are now coming out of their dens to invest in real properties.
What is in store?
As per the recent reports, after two years of decrease in trend and prices of real properties and while they were on the verge of almost losing the game, now there are promising signs of recovery in 2017. As we saw earlier, based on the yester year records and the declining trend that prevailed in the real estate markets, predictions were made that the Arabian soil will see improvement only in the year 2018, but there are remarkable improvements as early as in 2017 so 2018 would not be as bad as expected. Anyways we will have to wait to see how the real estate business fares out.