This was the Tasweek tweetchat
Tasweek’s real estate channel on Investvine held its first tweetchat today with topics revolving around Dubai’s newly refound role as a property investment star in the Middle East. Prominent property firms in the UAE took part or watched the Twitter activity, such as Bayut, JLL and Propertyfinder, as well as Masood Al Awar, CEO of Tasweek Real Estate Development and Marketing.
To the statement that there are contradicting opinions on price development in Dubai and the question whether a bubble forming again or not, Al Awar responded that there were now better regulations in place and Dubai currently “is still a buyers’ market”, one that just has begun its upswing.
Wondering what locations in Dubai have benefited the most from the real estate upswing, answers came that Downtown Dubai was up 100 per cent in rental price and Dubai Marina has continued to benefit with a 36 per cent rise. Hot locations are also free zone areas such as Jumeirah Lake Towers, and Emirates Living, Tasweek’s CEO said.
However, Twitter members were at strife whether rent caps are a reasonable measure to keep prices under control. User Carlo Eustaquio argued that “Yes, it can help avoid excess rises, flipping etc as we saw previously”, while user Amr Mosallam said that “in a free market rental caps [should] be used to measure the market but not to control it.” Al Awar stated that caps were “good measures controlled by supply and demand.”
With rental yields around 7 per cent, the question popped up to where the market is heading.
“The trend is above 7 per cent if you have access to the right deals and location,” said Al Awar. “It is sustainable as this is a growing market and not a mature market.”
[caption id="attachment_21517" align="alignleft" width="271"] Click to enlarge[/caption] Tasweek's real estate channel on Investvine held its first tweetchat today with topics revolving around Dubai's newly refound role as a property investment star in the Middle East. Prominent property firms in the UAE took part or watched the Twitter activity, such as Bayut, JLL and Propertyfinder, as well as Masood Al Awar, CEO of Tasweek Real Estate Development and Marketing. To the statement that there are contradicting opinions on price development in Dubai and the question whether a bubble forming again or not, Al Awar responded that there were now better regulations...
Tasweek’s real estate channel on Investvine held its first tweetchat today with topics revolving around Dubai’s newly refound role as a property investment star in the Middle East. Prominent property firms in the UAE took part or watched the Twitter activity, such as Bayut, JLL and Propertyfinder, as well as Masood Al Awar, CEO of Tasweek Real Estate Development and Marketing.
To the statement that there are contradicting opinions on price development in Dubai and the question whether a bubble forming again or not, Al Awar responded that there were now better regulations in place and Dubai currently “is still a buyers’ market”, one that just has begun its upswing.
Wondering what locations in Dubai have benefited the most from the real estate upswing, answers came that Downtown Dubai was up 100 per cent in rental price and Dubai Marina has continued to benefit with a 36 per cent rise. Hot locations are also free zone areas such as Jumeirah Lake Towers, and Emirates Living, Tasweek’s CEO said.
However, Twitter members were at strife whether rent caps are a reasonable measure to keep prices under control. User Carlo Eustaquio argued that “Yes, it can help avoid excess rises, flipping etc as we saw previously”, while user Amr Mosallam said that “in a free market rental caps [should] be used to measure the market but not to control it.” Al Awar stated that caps were “good measures controlled by supply and demand.”
With rental yields around 7 per cent, the question popped up to where the market is heading.
“The trend is above 7 per cent if you have access to the right deals and location,” said Al Awar. “It is sustainable as this is a growing market and not a mature market.”
