24th July 2008
Dubai's real estate sector is performing well as demand for property in the dessert nation outstrips supply, reports Business Intelligence Middle East.

Rental yields in the Middle Eastern commercial hub are high, buoyed by its booming economy as more foreign human capital is lured into the country's growing sectors.

Figures from estate agent Colliers International state that property prices in freehold areas registered a growth of 42 per cent in the first quarter of this year.

And in the first half of the year, prices in the country rose by over 75 per cent, largely due to the soaring oil prices, according to Dubai-based property website sandcastles-property.com.

The government is putting in place measures to entice more investors with one of the moves being the introduction of special courts, whose role will be to exclusively deal with property related issues.

The move is designed to give foreign property investors more confidence.

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