Dubai Property Prices Stall

With the financial problems being experienced in the west now slowly filtering through to other economies around the world, Dubai can join the likes of China and other large Asian countries in seeing its economy slowly take a turn for the worse as we bring you an update here. This therefore puts Dubai real estate in a very unfamiliar situation, with this perhaps the first time here that property prices are not on the up. And with this being a first, no one is really sure as to how long things may last, and what happens next. After all real estate prices can be complicated enough, without the current external factors also added on top. However what we do know is that the current property prices decline presents buyers with a great opportunity to pick up a bargain!

Whilst houses prices are still not exactly give away cheap, they are certainly becoming more and more tempting. Whilst prices have fallen with both off plan and secondary market property, it certainly seems that it is the secondary market that has been the hardest hit. Many of those working in the Dubai properties sector believe the current fear behind the price drops is a little overblown and prices will soon bounce back, but in either case, it means for the time being you can purchase real estate in some well know areas for almost 20% less than a few months ago! With prices in Emaar’s popular Downtown Dubai apartments development according to some reports down by as much as 22%, there is some very high standard real estate up for sale with big discounts!

But who wants to buy now if the market is only going to continue to fall, right? Well the beauty of the Dubai property market at the moment is that long term; it still looks a very solid investment! Property is still underpriced in relation to other big cites, and the Dubai government has a strong hand in dictating market supply, ensuring things don’t get too out of control. The general picture being presented of the Dubai property market is that the current price drops being experienced will not be a long term thing, therefore making this a great time to jump onto the market.     
 

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