Dubai property market 'will be stable this year'

06/06/2011 - Dubai Property News Posted by Bob Brunskill
Dubai property market 'will be stable this year'

Property investors in Dubai are expected to witness some stability in capital values over the coming 12 months, a new report has suggested.Jones Lang LaSalle (JLL) suggests that many more established residential and commercial areas have experienced price stabilisation and, in select cases, increases."While Dubai is already passed the supply peak, Abu Dhabi is still approaching the peak of the supply cycle. Thus, Abu Dhabi rents and sale prices are expected to continue to decline in the coming year," the global property consultancy said.Respondents to the survey, which comprise top 30 financial institutions investing in regional real estate markets, believe that even as Dubai rents will continue to fall, the rate of decline has slowed significantly.Indeed, indicators suggest that some locations and sectors are either at or near the bottom.Buy-to-let investors in the country are likely to be encouraged by a recent report by MasterCard, which found Dubai to be in the top ten tourist destinations for 2011.