(PDF) Property Market Analysis in the Valuation Process

Added on - 24 Apr 2021

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Running head:PROPERTY MARKET ANALYSISProperty Market AnalysisName of the Student:Name of the University:Author’s Note:
2PROPERTY MARKET ANALYSISExecutive SummaryThis current report deals with the situation of the real estate market in UAE. Dubai real estate isone of the growing business sectors in UAE. This sector contributes more to UAE economy.However, in 2008 and 2009 due to the economic recession Dubai real estate had faced manyissues, which affected the growth of the real estate in UAE. After the year of 2010 significantgrowth has been seen in Dubai real estate market. UAE government has no tax on the rentalincome, which influences the foreign investors to invest in this country as well as in the realestate market. On the other hand, to decrease the dependency from the oil and gas sector, UAEgovernment focused more on real estate business, which is another reason for the enhancementof real estate property in Dubai.
3PROPERTY MARKET ANALYSISTable of ContentsIntroduction.....................................................................................................................................4Background of the Dubai commercial real estate market................................................................4Aims and Objectives........................................................................................................................5Research methodology.....................................................................................................................5Literature Review............................................................................................................................6Concept of the property market...................................................................................................6Overview of the Dubai economy and real estate finance............................................................6The current issue of Dubai real estate market.............................................................................7Overview of the hospitality sectors.............................................................................................7Overview of the office, residential and retail market in Dubai...................................................8Off plan sale in the UAE real estate market................................................................................8Overview of Dubai real estates in 2016 and 2017.......................................................................9Factors that lead the investors to invest in Dubai real estate market.........................................10Potential effect of the global real estate crisis on UAE real estate market................................10Conclusion.....................................................................................................................................11References......................................................................................................................................12
4PROPERTY MARKET ANALYSISIntroductionProperty market analysis or real estate market analysis refers to the study of present market andthe values of the property. Property market analysis focuses on the performance of thecommercial property, retail industry and other industries (Dziauddin & Idris, 2018). However,real estate economics include a technique that describes and explains supply, demand and thepattern of prices. Real estate is a durable property. The stock of a real estate supply can bemeasured based on the last year stock, existing stock, deterioration, and rate of renovation ofcurrent stocks. In 2018, the residential rental price of Dubai has dropped. As a result, propertyprice has declined in the recent year in UAE market. This study deals with property marketanalysis in UAE and the current position of the real estate.Background of the Dubai commercial real estate marketThe commercial real estate market in Dubai has a great contribution to UAE economy. Thisproperty market contains long-term health in comparison to other property markets. UAEgovernment focuses on the development of real estate property as well as the housing propertyfor families, hotels, hospitals, shopping mall and corporate sectors. The aim of developinghousing apartments is to protect the households and demography of the citizen's residential areas.The main purpose of selling land or house is to buy another land or house. At present, the realestate property market has been proliferating in UAE, which highlights the economic growth ofthis country (Abouraia, 2016). According to the property law of UAE, the buyer of land or houseshould be a UAE national. Therefore selling and buying of property should not have anyconnection with the financial and legal liabilities. On the other hand, the sales price of theproperty should not be less than the current market value. The department of the land andproperty in the Dubai only allows the buyer to buy the property if all these above criteria arefulfilled. The main target audience of the UAE, real estate market, is the 35 to 55 years agegroup of people as this age group is mostly involved in purchasing and selling the property. Thecommercial real estate in Dubai includes housing apartments, office, educational sectors, and
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