Dubai Property Market Buoyant In The Face Of Global Recession
The Dubai property market will remain strong, despite the global economic downturn seen in response to the credit crunch and a tightening mortgage market, according to online Dubai real estate hub Estates Dubai (www.estatesdubai.com).
(21 October 2008) - - The Dubai property market looks set to remain strong in spite of the wider economic downturn and the credit crunch contributing to declining property markets in other regions, according to online Dubai real estate hub Estates Dubai (www.estatesdubai.com).
While the credit crunch and the impending global recession have resulted in falling property prices, sluggish demand and financing difficulties in most parts of the world, the Dubai region has remained strong, and development in both residential and commercial properties has continued at a strong pace.
Mahindra Dey of Estates Dubai believes the continuing development projects within the Dubai market coupled with the high-end client based the Dubai market traditionally attracts will bring some degree of immunity to the region in relation to the current economic slowdown.
“What we’ve seen over the last few months on a global scale has had minimal, if any, impact on the Dubai property market and the breadth of development underway in the region. The Dubai property market has continued to remain buoyant over these past couple of months, and we predict that this will continue largely unaffected by the market externalities which have come into play around the world.”
“The Dubai property market usually attracts a particular type of customer – affluent, with ongoing business or employment commitments – which means there will always be a market for Dubai property. Couple that with the ongoing investment in both residential and commercial estate development, and you’ve got a market that’s both evergreen and largely resilient to wider economic factors.”
Estates Dubai provides commentary and analysis on the Dubai property markets, of relevance to buyers, sellers and developers of real estate within the Dubai region.
Estates Dubai (www.estatesdubai.com) is an online real estate hub, providing news and information about the Dubai real estate market. Dealing with issues topical to the Dubai property market, Estates Dubai is of interest to both buyers and sellers of real estate in Dubai.
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