Dubai is better than Abu Dhabi in terms of both the property market and tourism.
When compared to the rates seen in Abu Dhabi, figures consistently show that Dubai continues to outperform the UAE capital in terms of real estate, with experts claiming the fact that Dubai is a tourist area with a variety of tourist attractions makes property investors more keen on putting their money there. Dubai also has a strong appeal to young people who want to reside there because of its social and employment vibrancy.
The second quarter of this year saw residential rates in Dubai fluctuate between two and three percent with the price of some high quality units increasing because of the improved rents, sales and rates of tenancy with Dubai Marina and Tecom showing stability from the start of the year.
Abu Dhabi has seen slower growth than Dubai but it is expected that there will be some steady improvements, similar to the ones currently being seen in Dubai, by the end of the year.
However, it is not just the property market where Dubai is seen to outperform Abu Dhabi. The rate of tourism is more booming in Dubai than it is in the neighbouring Abu Dhabi in terms of the hotels, attractions and shopping facilities, highlighting why Dubai always seems to fare better.
Just last month it was highlighted that the Dubai property market was on the up with Oxford Business Groups Regional Editor, Oliver Cornock commenting: “While the rate of growth given by different agencies may vary to some degree, all point toward a slow but steady recovery in Dubai’s residential property market.”