Dubai Housing Sector: Slow But Sure Recovery

Published: 20/01/2010

The rise in house prices in Dubai in the 4th quarter of 09, and having mimicked the same pattern of the previous quarter, has indicated the stabilisation of property prices in the housing market in the region, hit hard by the global financial situation.

In December, however, house prices took a fall with the uncertainty of the emirate’s debt crisis, as published recently by global property consultancy ‘Colliers International’.

Dubai residential house prices jumped by 1% in Q4 compared with Q3, figures were obtained using actual mortgage transaction data from a consortium of financial institutions.

Colliers International anticipate that price fluctuations will become less prominent as the market matures, thus indicating, that Dubai property values will be reflective, in due course, of their true values.