Rera survey shows sector positive on growth

A recent survey conducted by the Real Estate Regulatory Authority (Rera) of the Dubai Land Department showed that agents have confidence in the real estate market, following the cabinet decision to extend real estate visas for investors to three years.

Over 95 per cent of investors and developers welcomed the decision, according to a press release issued yesterday.

According to the statement the Rera survey took in the opinions of 300 persons across three segments - developers, real estate brokers and investors.

Hamda Al Shamsi, Head of Research in the Department of Real Estate Development, said: “94 per cent of investors confirmed their satisfaction with the council's decision to extend the visas of real estate investors for a period of three years.”

Also, 78.6 per cent of investors confirmed they are convinced that the decision will serve to narrow the gap between supply and demand for real estate units.

While 83.3 per cent found that the decision will serve to stabilise the rental market in the Dubai, while 69.1 per cent of the investors involved in the questionnaire assured that the resolution would lead to an increase in the number of sales of real estate in Dubai.

Al Shamsi pointed out that the results of the questionnaire for the segment of real estate brokers showed that 97 per cent of them are very satisfied with the decision to extend the visa.

While 89.3 per cent said the decision will reduce the gap between supply and demand for real estate units of the Dubai.

While 79.2 per cent of them said the decision will be working to stabilise the rental market, while 73.9 per cent expect that the resolution would to increase the demand for real estate in the emirate.

With regard to the results of the questionnaire to the segment of developers, the results showed that 95 per cent of them are happy and satisfied with the decision to extend the visa for three years, while 85.7 per cent of them predicted that the resolution is working to narrow the gap between supply and demand for real estate units.

Also 85.8 per cent said that the decision would lead to the stability of the rental market, and 77.2 per cent of the developers said the decision will be one of the engines to increase the number and value of sales of real estate in Dubai.

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