Categorized | International

Dubai Property Sales Experience Slight Increase

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The Dubai residential real estate market has struggled through immense declines in value and sales over the past few years. Having once been considered the hottest property market around the world, they have since fallen drastically since that garnering that distinction. However, a recent report may indicate that perhaps things are on their way back up for the region’s property market.

According to a recent report, property sales in Dubai have increased by more than thirty percent since 2009. That statistic has some analysts hopeful that Dubai’s property market is improving, and that the region is recovering from the freefall in the number of sales that took place during the real estate crash.

However, other analysts are not so hopeful, and believe that the report is cherry-picking numbers to make the market look better than it really is. The sales figures are still down by more than seventy percent when compared to what they were at during the market’s peak. In 2008, the market had roughly five hundred and thirty transactions completed each month. That figure now resides at one hundred and sixty per month.

Those analysts that believe things are improving in Dubai cite the fact that banks are reducing interest rates, thus making the market for attractive for investors across the globe. Chinese and Indian investors have taken notice, and are buying properties in the area.

It is not likely that the market will come anywhere near its peak figures from 2008, though real estate agents and analysts alike are hopeful that performance is improving.

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About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

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