Private Forex News
Mixed sentiment over Dubai property market
Thursday, 26 January 2012 11:07:17 GMT
Those looking to invest in Dubai are being encouraged to seek advice over their property choice, as mixed sentiment engulfs the property market in the Emirate.Foreign mortgages in the Emirates has been a very attractive option for those looking for property as an investment.
The skyscrapers and office blocks transform the city around you on a daily basis, leading to a flood of business interest and rocketing property prices. However, as the global recession starts to grip the nation, property prices in some areas are set to fall.Dubai is built on continuous construction, and that trend is set to continue. The housing market is now more likely to be centred around affordable property, rather than luxurious. The risk is that the rising cost of land and declining property prices will make these projects unsustainable.According to Propertyabroad.com, analysts see several challenges to the recovery of Dubai's property market: oversupply, the economic crisis in Europe and a lack of clarity and transparency.Other Emirates may fall foul to the same problem. Property prices in Abu Dhabi could fall as much as ten per cent this year due to the increase in supply. The number of high-end homes that will come onto the market may meet the needs of a faltering market.For more information on purchasing currency for regular or one-off payments, visit our Personal FX site
The skyscrapers and office blocks transform the city around you on a daily basis, leading to a flood of business interest and rocketing property prices. However, as the global recession starts to grip the nation, property prices in some areas are set to fall.Dubai is built on continuous construction, and that trend is set to continue. The housing market is now more likely to be centred around affordable property, rather than luxurious. The risk is that the rising cost of land and declining property prices will make these projects unsustainable.According to Propertyabroad.com, analysts see several challenges to the recovery of Dubai's property market: oversupply, the economic crisis in Europe and a lack of clarity and transparency.Other Emirates may fall foul to the same problem. Property prices in Abu Dhabi could fall as much as ten per cent this year due to the increase in supply. The number of high-end homes that will come onto the market may meet the needs of a faltering market.For more information on purchasing currency for regular or one-off payments, visit our Personal FX site
