Securing innovative sources of income for the development of the local economies of the countries. The real estate has gained great importance in the economic equations of these countries, so that the real estate sector becomes one of the most sensitive sectors in the various changes that occur to societies. .
And most researchers in the matter agree that the first reason for the decline in the performance of the real estate market is the economic and geopolitical changes that occur in the world, but in my focus on this point, and wandering between the folds of the various global real estate markets, especially those arising from them, particularly the Dubai market, I realized that the influencing factors In the real estate market, it is not only those related to economic and political conditions, and not only those that relate to social conflicts and their interference. Yes, it can be classified as the first reason or the main factor affecting the real estate market, but it is not the only influencing factor. And away from the economic fluctuations, any real estate market, regardless of its level of performance, loses its activity, and the property loses its true value, regardless of its quality, if:
- Excess of supply over demand, as the large number of options, and the scarcity of consumers, create strong competition between producers, which in turn leads to the collapse of the property price, and thus the market price collapse.
The demand for supply exceeds supply with available supply, but it does not cover what the consumer is searching for and wants, i.e. the availability of products that do not meet the desires and aspirations of consumers, either in terms of quality or the location and others, as this is a thorny problem indeed (the product is available and stacked, but the consumer does not want it Despite his need for it).
- Clear legislative laws are absent, as real estate and investment laws generally play an effective role in revitalizing the real estate market and attracting investors, given that the real estate law is a safety belt for investors and ensuring their rights.
- The percentage of the population and tourists decreased, because any real estate market suffers from poor performance if the population of the region in it does not sleep, and its inability to attract tourists from abroad.
And if we drop these conditions on the Dubai market, according to the current reality, Dubai does not suffer crises, neither political, economic, or social, nor does it lack the population, expatriates and tourists, if its population exceeds three million people and the number of tourists arriving to it is 10 million tourists, and it is considered the best The region has flexible laws, especially those that relate to investment in various economic sectors, especially the real estate sector.
Because there is an imbalance in the two-sided supply (quantity and quality), the Dubai market is currently experiencing an increase in supply, and similarity in the products offered, and here the gap lies, and here we must reconsider, and from here we must proceed to give a new impetus to the market.
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"Real estate and investment laws play an effective role in revitalizing the real estate market and attracting investors."