Dubai sees return of confidence in property sector

14/07/2011 - Dubai Investment News Posted by Neil King
Dubai sees return of confidence in property sector

Investors looking to purchase new properties in Dubai could be encouraged by the recent comments of one expert.Paul Collins, editor at BuyAssociation, said there is an air of optimism now surrounding the emirate's property market.The expert said that while it is difficult to say how much longer property prices will fall for, the recent rate of decline appears to be slowing."In the last few months, some development projects which had been put on hold have been restarted," he commented."There is a bit of light at the end of the tunnel and there are whispers of starting on the road to recover, but the market in Dubai certainly has an awfully long way to go to get anywhere near the situation that it was in, if it is to get there at all."It comes after a report published by Asteco last week revealed that apartment, villa and office sales in Dubai declined by three per cent, three per cent and six per cent respectively, while rents for both apartments and offices fell by two per cent.