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Property Market Analysis PDF

   

Added on  2021-04-17

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Running head: PROPERTY MARKET ANALYSISProperty Market Analysis(The UAE, Dubai Market)Student’s name: Name of the university: Author’s note:

1PROPERTY MARKET ANALYSISExecutive SummaryIn this report, property market analysis of Dubai, the UAE has been done. The commercialproperty segment and residential property both are important in real estate sector of Dubai.Dubai market is one of the attractive property bazaars for the buyers with internationalrecognition. Property market analysis provides a clear snapshot of the real estate market of thisplace. The property market is very viable and it provides a certain percentage of GDP of acountry. During the global recession, 2008 and 2009, the property market of Dubai faced severalissues. This report tries to complete property market analysis report by developing, analysing andorganising and presenting a coherent and well-supported argument based on argument. In thefirst section of the report, problem statement of the report has been given. There is certainlydemand in the market to purchase the housing property in Dubai; however, infrastructure issue isprevalent. The prices of residential properties are soaring high in Dubai with global recessionarytrends. The real estate companies are facing the issue of infrastructure bottleneck. In Dubai, thereal estate development has been continuing for a long time and the companies of real estatehave been facing the issue of shortage of water and electricity. Dubai city needs infrastructuresupport along with clear policy. Property market in real estate needs comprehensive policy. Theaim of the study is stated as the exploration of the property market and the current trends of theproperty market in Dubai, the UAE. In the literature review section, scholarly papers have beenreviewed based on the current conditions of the property market in Dubai, the UAE. The stagesof property cycle and risk factors in the property market have been discussed. Current economicconditions of the UAE along with growth in the property market have also been delineated.In the methodology section, primary data have been collected through structured interviews ofthe three real estate agents in Dubai, the UAE. 5 open-ended questions have been prepared forthis. Secondary data has also been collected to align with primary data. Thematic analysis hasbeen done in order to understand the issue and growth factors of the Dubai property market. Fourthemes have been segregated and the themes have been established with graphs and tables. In thefindings and discussion section, the analysis of both primary and secondary data has beendeduced. It is concluded that the UAE government permits the grant of sales of propertiesthrough permission by MRHE. The new act of property says that purpose of selling the land orhouse should be to buy another house or land; the beneficiary should provide written agreement

2PROPERTY MARKET ANALYSISto the transaction being given by MRHE. The act also shares that the buyers must be UAEnationals.

3PROPERTY MARKET ANALYSISTable of Contents1. Introduction..................................................................................................................................41.1 Background of research.........................................................................................................41.2 Problem statement..................................................................................................................51.3 Aim and objectives.................................................................................................................61.4 Significance of the study........................................................................................................61.5 Limitations.............................................................................................................................62. Literature review..........................................................................................................................72.1 The concept of property market.............................................................................................72.2 Concept of property cycles....................................................................................................72.3 Associated risks factors of property market...........................................................................82.4 Overview of Dubai economy and real estate finance regarding Foreign Investment............82.5 Current growth of residential property market in Dubai........................................................92.6 Identification of issues of Dubai property market...............................................................103. Research methodology...............................................................................................................113.1. Research philosophy...........................................................................................................113.2 Research approach...............................................................................................................113.3 Research design....................................................................................................................123.4 Data collection methods.......................................................................................................123.5 Sampling method.................................................................................................................123.6 Data analysis techniques......................................................................................................133.7 Ethical considerations..........................................................................................................134. Data collection and data analysis...............................................................................................134.1 Data findings........................................................................................................................13

4PROPERTY MARKET ANALYSIS4.2 Thematic analysis.................................................................................................................165. Results and discussions..............................................................................................................226. Conclusions................................................................................................................................23Reference List................................................................................................................................24Appendix........................................................................................................................................28

5PROPERTY MARKET ANALYSIS1. Introduction Property market analysis refers to the research of the present market values of the property.Property market of an area can be segregated into two parts, commercial property and residentialproperty. The performance of two property market analysis needs to be done in order tounderstand the growth of the market of an area. Property market analysis includes the process ofexplaining demand, supply and pattern of rising prices. The stock of the property market can bemeasured through the last year prices of residential and commercial area. In this report, Dubaiproperty market, in the UAE has been chosen to show the property market analysis. Moreover,there are six main sections in this report. Literature review section provides the secondary dataon property market of Dubai and in this report; both primary and secondary data have been usedfor analysis. 1.1 Background of research Dubai is one the major important cities in the UAE and Dubai the most populated cities in theUAE. Dubai is situated near Persian Gulf. Dubai is the capital city of emirate of Dubai andDubai is emerging as the global city and important business hub in the Middle East. Dubai isimportant for the business people and it has major transport hub for the cargo and the passengers(Al Faris & Soto, 2016). Many foreign people live here for business and employment purposes.43% people In Dubai are Indian and many of the foreign people find the residential properties forliving. The economy of Dubai mainly based on the trade and revenues collected from the oilexploration (Alfaki & Ahmed, 2017). Property market had faced major downfall during the timeof 2008 due to global recession and after 2016, Dubai property market witnesses trend ofrefreshing position to revive the growth of sales and investors’ planning to invest. Expatriates ofseveral nationalities gave capital into Dubai to make the trade and property boom started throughmega projects of The World and Palm Island (Al Iriani, Elbadawi & Fadhel, 2016). As stated by Thaler (2018), Dubai has been observing the white-collar employment, strongeconomy and wages growth in this area and the increase of price can be soaring high with 15%in next year. Agents are making money and the buyers try to purchase the residential propertyduring the summer. Therefore, the Dubai is experiencing leaving of native people through sellingthe properties, houses and apartments. In the recent time, this place is in high demand for

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