Dubai property sector set for recovery

11/10/2011 - Dubai Property News Posted by Neil King
Dubai property sector set for recovery

Property investors keeping an eye on activity in the Middle East could be inspired to seek new opportunities following the publication of a new report.According to industry organisation Cluttons, Dubai's property market is poised to turn a corner with buyers on the look-out for new property deals.The study showed that demand for good quality, well-positioned and well-designed apartments is set to rise.Cluttons also suggested that demand from properties in Dubai will rise after the International Monetary Fund predicted GDP growth of 3.3 per cent in Dubai for 2011, and 3.8 per cent next year.Another reason for the increase in demand could be the successful extension of the emirate's Metro line.Recently-published figures showed that almost six million people used the Dubai Metro in September.The growth has led to increased interest in properties within walking distance of station on the new Green Line.