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| Dubai Property Market |
The Dubai real estate sector’s strong fundamentals [huge Government driven infrastructural commitment and substantial achieved completeness] remain supportive of a sustained growth phase, having adjusted to a particularly aggressive free fall in average prices. |
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- Post the international financial crisis, Dubai’s leaders remain committed to driving their
2015 macro strategy plan to success;
- The economy as a whole has already experienced positive recovery of
significant magnitude
- 2009 highlights include;
- The world’s largest metro network opened 9/9/2009
- The world’s tallest tower, Burj Khalifa – opened in 2010;
- Dubai Investor Confidence Index recent positive boost.
- DFM recovery led by Emaar Properties – 2009 growth 155%
- Opportunity to experience post recovery lag effect growth in real estate market
- Since their peak in September 2008, prices have fallen by an average of 47%
- Supply of new stock is expected to lag behind planned delivery, creating a natural cushion
against further price falls
- Current indicators put the bottom of the pricing market as Q3 2009, with an overall
price increase of 9% achieved in Q3/4 2009
- Demand driver statistics (source Colliers International);
- Transactional increase - 64% Q3 2008/2009
- Average price Increase - 7% Q2 to Q3 2009
- Villa price increase - 9% Q to Q3 2009
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