Dubai property prices rise by 2.1% in six months to end of March, report says

27/06/2011 - Dubai Property News Posted by Neil King
Dubai property prices rise by 2.1% in six months to end of March, report says

People pondering Dubai property investment may be interested to hear that prices in the emirate have increased so far this year.The Knight Frank Global House Price Index shows that prices rose by 2.1 per cent in the six months ending March 31st and by 0.6 per cent in the first quarter of this year.This compares to a global house price increase of 1.8 per cent in the year to the end of March, suggesting that people buying property in Dubai could get a return on their investment.Liam Bailey, head of residential research at Knight Frank, said that prices are continuing to stabilise following a difficult period."The Middle East provides an improving picture. Dubai has seen price growth regain positive territory in the last six months and the consensus is that the market is stabilising following the volatility observed in 2008-2010," he explained.Meanwhile, Dubai Airports reported last week that passenger and cargo traffic continued to increase in May.