Dubai's population still growing

Demand for property in Dubai is likely to remain high as its population is continuing to grow, a local market expert has claimed.

Anyone who has purchased investment property in Dubai in recent years is likely to have seen a healthy return, as an influx of foreign workers has helped to create strong demand for rental accommodation.

Some commentators have predicted that rents and capital values cannot continue to grow at the rates seen in the past few years, but Oliver Hickey of the Profile estate agency disagrees.

Official figures show that 25,000 people are moving to Dubai every month and Mr Hickey told Property Wire that the trend is having a positive impact for investors.

"Its long-term investment possibilities are superb with few other world destinations coming even close to Dubai," he added.

Meanwhile, Dubai's Real Estate Regulatory Authority is reported to be planning to introduce new regulations to streamline the buying and selling process in the emirate.

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