Signs of revival for Dubai property
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| Dubai property prices have risen for the first time since the market crashed last year , up 7 per cent in the third quarter as demand revived and lending conditions eased, consultancy Colliers International said. |
| The figures reflect a growing sense of optimism in Dubai, which was badly hit by the credit crunch as its vast debts combined with the puncturing of the real estate bubble a year ago. |
However, Colliers warned that an upcoming surge in completed properties would drag down average prices next year, although not across the board.
“Well-planned mature developments in good locations, supported by facilities and community infrastructure, will receive relatively higher demand,” said Mr Albert. |
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November 4th, 2009
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