Cityscape Dubai 2009

Cityscape 2009 is about to start next month on the 5th-8th October this is always a busy time in the Dubai Property market where expectations are high but will this year be different? Since the exhibition this time last year the Dubai Real Estate market has took a hammering just like most other property markets Worldwide with prices dropping some 50% from what they were in 2008. Although now could be the time that end users and investors looking for a bargain are waiting in the wings and to buy at the exhibition on the ground. Last year even when things were good there were developers selling at discounted prices so I wonder what is in store this year as off plan property has been the hardest hit out of all the Dubai Properties on offer.

Emaar and Nakheel had pulled out of the property fair but now they have made a well documented U-turn and are back in place for this years show which will surely have a lot less projects on show than in previous years for sure. Looking back to 2006 when things were booming in Dubai you could not even move on the floor of the fair when it was packed to the rafters with speculators and flippers looking for the special bargain which they planned to sell at a very good profit some short time thereafter.

I hope the event is a success anyway as the local market here looks to climb back to how it was in previous years. The signs are looking promising with prices stabilising now and a lot more end users who were renting before looking to enter the market for the first time and save on wasted rental money which can only be a good thing.

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