Is the Dubai property market stable or are prices going lower?
Dubai property prices have remained relatively stable recently as inventories of property for sale have fallen since the crash hit last year, according to a new study published today by the Landmark Advisory. ‘This fall in inventory is a critical point. While the aggregate number of completed units in Dubai increased, the actual inventory, or units available for sale or lease, has decreased over the past year,’ said research director Jesse Downs. ‘Potential buyers are focused on views, location, quality and finishing,’ she added. ‘Investors and end-users are increasingly considering the opportunity cost associated with a particular investment; in other words, carefully weighing the merits of selecting a particular unit or development over another.’ However, ArabianMoney can only agree with the final conclusion offered by Ms Downs, ‘although inventory trends explain the recent price trends, the long term market fundamentals do not support permanent stabilization for the vast majority of
