The pace of decline is easing, as sentiment among both investors and occupiers turns more positive. There is a real feeling that the worst of the crises is behind us and that markets will stabilise somewhat during 2010.
Despite the worldwide economic downturn, property prices in Dubai begin to stabilise and financing restrictions relax. The market is driven by end-users and long-term investors who are motivated largely by value maximization, namely the best price for a high-quality home in a completed community.
Transactions and enquiries have picked up in line with mortgage availability and those who could not afford to buy a unit at the peak of the market are now taking advantage of lower prices. Demand is predominantly for smaller units such as studios and one-bedroom apartments, or two- and three-bedroom villas or townhouses due to the price point.
