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Dubai: A crunch-free zone?
New figures have highlilghted Dubai’s apparent immunity to the global credit crunch...
The momentum of the Dubai property market continues to buoy investors with the latest figures showing price increases of up to 15% by the end of May this year. Such is the acceleration of this credit crunch free market that there is expected to be no let up over the summer months with demand being continually high due to a shortage of available properties.
Oliver Hickey UK Sales Director of Profile Europe (UK) Ltd enthused: “The Dubai property market is currently enjoying unparalleled success and such is the optimism that we are expecting property prices to increase by a further 10% by the end of the summer, a period which traditionally is universally quite.
”Dubai is in effect suffering from a shortage of completed properties to cope with investor’s demands. Many are still at the off plan stage and those that own completed properties are not prepared to sell at a time when prices are continuing to rise. With no end to the boom in sight and a property market built on one of the worlds strongest foundations, Dubai should be considered as one of the best long term investment markets available.”
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