Wednesday, April 29, 2015

Dubai sees High demand in housing developments for Mid-segment

Many professionals working in Dubai live far — even outside Dubai — from their places of work in upmarket areas. The arrangement means there is more traffic on major commuting routes.
Though there is no shortage of labour accommodation or luxury properties in Dubai, the executive working class is facing a housing squeeze as Dubai expands in area and population.
The commute from lower market segments to areas where there are only major corporations and luxury homes is also putting pressure on the roads.
Dubai has seen property prices and rents rise again recently. They had peaked before dropping during the global financial slowdown in late 2008. Economic recovery followed more recently and led to higher property prices and rent.
Many middle-class workers priced out of the market moved to cheaper areas within Dubai or other emirates. By comparison, there was no significant migration in the labour or upper class brackets.
Many of the luxury projects, properties and developers employ a considerable portion of human resources in the mixed-income spectrum, who do not live in pricey areas.
Majority of the housing developments coming up in Dubailand has Developments targeted as an elite and well designed community with comforts of luxury living.
The proposal to develop communities that will balance out luxury and affordable housing is the current market strategy.

Projections indicate if people live and shop close to their place of work, it will reduce congestion, pollution and volatility of property market cycles.Hence prime locations with quality developments are being sought by families along Umm Suqeim road and in Arjan Master community which is the ideal place to be close to the city and have good affordable housing communities.

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