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The year 2013 proved to be exceptionally helpful in the revival of Dubai's real estate market and in just 9 months the property market of the emirate transformed from the buyer's market to a seller's market. Interestingly Bayut.com illuminated the investors of the world about the rising property market of Dubai through its highly reliable statistical figures, derived from its online portal. In order to get illuminated about the precise statistics and other detailed facts and figures which constitute to the rising property market of Dubai read the full report on Bayut's blog. The escalating prices have no doubt alarmed many real estate analysts and there were many disturbing speculations regarding the boom and bust cycle of Dubai's property market. The government came to the aid of the emirate and passed certain laws which reinforced the stability of the booming market. Furthermore according to Cluttons, Dubai is in no danger of any property bust and there is nothing to worry about at the present stage because of the strong demand of property in the market which makes it the most favoured destinations for investment. The price hikes were experienced all across Dubai and perhaps those at JLT (Jumeirah Lake Towers) were the most notable amongst all. The units in JLT are now perceived to be enjoying the same investors' footfall which was previously experienced by the apartments in Dubai Marina. Since the name of Dubai Marina is mentioned, let us inform you about the fact that the present rates are much higher in Dubai Marina as compared to Jumeirah Lake Towers but nonetheless JLT has shown remarkable improvement in terms of value. Now if we consider the rental prices of the apartments in Dubai, the sky scarpering towers of marina continue to possess the high end apartments securing the best prices as compared to the other localities of Dubai. Such were the rents that many speculations were seen to be made specifically about the said locality, but still Goldman Sachs has discarded these rumours as exaggerations and so was the opinion of Frank Knight. According to statistics based on reliable data, it was found that while the rates were observed to be spiking in apartments for rent Dubai Marina, its strongest competitor, Downtown Dubai, failed to keep up with the rising trend. Abu Dhabi was seen to be struggling with its sister emirate and the sales prices of both the villas and apartments witnessed adequate rise. It was further noticed that only the posh localities of Abu Dhabi experienced the rise while the secondary market remained stationary. A good reason for that could be termed as the new law which demanded all the government employees to reside within the emirate or else suffer the consequences.
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