Opinion
remains split among analysts as to when property prices in the emirate will
recover, with some forecasting several more years of declines. Other analysts
expect a fledgling uptick in house prices over the next 12 months.
The
biggest challenges cited to price recovery included the threat of a second
downturn in Europe and increased supply to the market, as developers opt to
finish properties rather than refund investors.
Analysts
broadly agreed that Dubai’s property market should be looked at as two separate
entities, split between well-maintained buildings in established areas and
those in less desirable locations. Respondents said high-end projects were
already seeing price stability.
“Dubai real estate represents great value and
it’s a great time to buy if you have a three to five-year timeframe in mind,”
said one.
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