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Dubai property prices show steady shift towards reasonable levels
Sherwoods Independent Property Consultants, Dubai-based property consultants, has announced that it has noted a steady shift of property prices in Dubai towards more reasonable levels, as the real estate market enters a new phase that will serve as a springboard to recovery. It further expects to see concrete signs of growth in terms of property prices and real estate investments starting in the 4th quarter of 2009, even as it predicts 2010 to be a year of stabilization and new direction for the real estate industry.
Iseeb Rehman, MD, Sherwoods Independent Property Consultants, said, "I would say that the prices have been corrected to reasonable levels, which has created more value offerings to buyers and investors.
The positive signs we are seeing should result in more tangible proof of growth around the 4th quarter of 2009, during which property prices will further stabilize and we can also expect a marked increase in property investment."
Furthermore, 2010 should be a year of stabilization and direction as Dubai transitions into a more stable and robust market for property investments.
The prices available today are conducive for long-term investment and should make good profit in the long term. It is not advisable for anyone to enter the real estate market for short-term investments at this point of time. Sherwoods attributed the impressive performance of the property market in the heat of the global economic downturn to Dubai's decision to enhance infrastructure development in the emirate.
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