What will happen with the real estate market in Dubai?

12.03.2011 13:32
Real Estate Market Analysis | What will happen with the real estate market in Dubai? Analysts say about this world of consulting agencies. The decline in the market has attracted investors looking to this "play", but the decline in prices has not yet terminated.

The housing market the emirate is in poor condition since 2009. Average cost of property transactions in Dubai in 2010 fell by 65%, the number of transactions declined by more than half. On the eve of Deutsche Bank said in its study that the average housing prices in Dubai have fallen by 62% compared with the peak values. Risks of further price reductions there, as the market awaits the introduction of at least 48,000 new homes over the next two years.

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Despite the decline in key indicators, real estate professionals say the growing interest from foreign investors, says Arabian Business. It was evident from the end of 2010. Property in Dubai attracts mainly buyers from Eastern Europe and the Persian Gulf.

City, experts say, now compares favorably with the global financial centers such as Singapore, Hong Kong and London, as it offers the same level of life, but for less money.

Radical political unrest in the Arab world can also play into the hands of the trade and tourism business in the UAE, as investors seek a relatively safe market for their funds. In February, the emirate has already been pronounced a great investment.

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Content tags: Overseas property
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