Dubai Marina: Dubai’s Most Searched Property

Dubai Marina also known as the “New Dubai” is receiving high recognition from people all over the world. In fact, it is now the most popular property in the emirates. In the statistic shown in one website, Dubai Marina topped the chart of the most searched property in Dubai having about 18% searches for property buyers and 18.02% searches for property renters. The search also came mostly from people of Unites Kingdom as well as some Asian countries. The most popular searches targeted properties with a price of 1 million AED and below. And about 25% of buyers are looking for villas and the two bedroom units. Although Dubai is still experiencing over supply and a really huge gap between the supply and the demand, experts believe that the residential properties in Dubai is vastly improving; and lending will still serve as the solution for the market recovery. In 2009, about 1,200 transactions were completed however at the end of 2010 the transaction went down to more than 50%. Dubai market is expecting 25,500 more units to come out in the market and no delays or cancellations is expected, the market price would still be poor and is not expected to recover until 2012 yet because more and more banks are showing interest and are injecting liquidity into the mortgage market, there will sure be an in improvement in Dubai’s market. Meanwhile Dubai Marina is sure on its way to more popularity, more searches and more sales. As a part of their popularity campaign, they are now hosting 2011 Guinness World Record for “the most number of hoops spun at once”. The performer would be performing on Dubai Marina Mall from February 3 until the 20th of 2011.