The gap between the Dubai Property supply & demand is shrinking therefore the authorities have shown consent to offer facilities for the investors. This decision was taken by the cabinet after studying the results of survey recently conducted by the Real Estate Regulatory Authority (Rera). The cabinet of Land Development Department extended Dubai visas for investors to three years. This survey incorporated the opinion of 300 people divided into groups of developers, real estate brokers and investors. The results indicated that a large group of investors and developers are positive about the future of Dubai Real Estate and appreciate the decision visa extension.
This survey indicated that 94 % of investors showed hope that the council’s decision to extend the visas of real estate investors for three years will serve in narrowing down the gap between supply and demand for Dubai real estate units. Whereas 83.3 % feel that the decision will help Dubai rental market stabilize, while 69.1 of the investors are of the opinion that this move will bring a definite prosperity to Dubai properties.
Further results showed that 95 % of them are satisfied with the decision of visa extension for three years, while 85.7% predicted demand and supply gap will be reduced with these steps and 77.2 % developers said the decision is a step towards increasing the value of Dubai properties and also the buying and selling activity in Dubai real estate.