Dubai property market 'at its best since end of 2008'

07/09/2009 - Dubai Property News
Dubai property market 'at its best since end of 2008'
Written by Ashley Waterman

Dubai property investment was given a boost this week following a report that suggested the sector was thriving.

Figures from Landmark Advisory show that there are signs of improvements in the stability of the region, with new and nearly completed developments looking at healthy listing prices.

Sales maps for the region showed that during June and July this year, activity has been at its best since the second half of 2008.

Jesse Downs, director of research and advisory services at the group, explained that end-users have been key to sales in Abu Dhabi, but this was not the case in its neighbouring emirate.

"In Dubai, investors continue to be the dominant source of residential demand," he added.

The report showed demand for one and two-bedroom apartments to be particularly strong and Mr Downs concluded this area may be a better investment than studios.

Landmark Advisory's figures follow comments from UAE minister of economy Sultan Al Mansouri, which suggested the country will be in a much more stable position by the end of the year.
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