Property prices suddenly took rise a couple of years ago and then had a sharp decline due to some reasons
. Analysts say, the reasons that some unethical practices followed by some property provider. These agents were responsible for first increasing the prices of houses & apartments at unacceptable levels where the property value is not representative. Then came the price crash that shows time without end up till now.
Property values and prices have a strong decline. The lucky ones who were able to sell their properties at a good time have been able to get a good price, while others kept waiting for higher prices just ended in a loss market share. The situation is now much better and the industry is improving and recovering fast. Prices of goods are again normalized and this show is the positive point. The flexibility that the industry has shown means that the prospective are great and new entrants in the markets are very knowledgeable. This is because they have learned from the mistakes made by the parties at the time the crisis hit the sector.
Government is also playing a good role in the rationalization of the sector which certainly improved in terms of control. This improvement is achieved by introducing very few changes required in several places. UAE Government revised UAE property law in respects and some new laws also added. This has proven to be very useful and practical. Although it can be said that there is still much room for improvement, dedication and commitment by the government shows that, sooner or later, to become a good body control.
One thing is noted that in the case of Rent Apartment Dubai government officials faces a weak integration system. Previously the functions involved the process of recording transactions of sale or purchase of goods had to work independently. It was a standard or simplified process. The department in which the ownership documents sent for approval was not closely related to approving the same documents and records. It was not until later that some individual experts showed their ideas to renovate the existing system.
For this purpose they had to take the help and assistance of people who have practical experience and work in the field. So they hired and consulted experts were not real estate agents. First they gave idea that, in order to optimize the whole process, a gradual approach to follow. He got the idea of applying the system of the new constitution in the first villas in Dubai. It is a kind of marketing test aimed to see the working model of the new process. When launched very pleased with the results. The improved system of registration of all the positives you can think of. After the success that has moved the process for all types of real estate transactions and the recording mode that we see today is the result of this work and the endless adventure and effort.