International calls: Dubai price falls represent 'great opportunity' for businesses
Monday, Jan 18, 2010 Filed Under :Planet Talk Instant News
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Property prices in Dubai look set to fall but that could be good news for businesses looking to gain a foothold in the emirate, according to an expert.
It is "clear" that prices will go through a period of "adjustment", explained Nicholas Marr, chief executive officer of Homesgofast.com.
Although investor confidence has taken a knock in Dubai, there are still "compelling reasons" to invest there, he remarked.
Mr Marr added: "Dubai still offers overseas investors opportunities not found in many other regions."
In addition, he stated that improvements to the infrastructure will continue to be made over the coming months and years, which will make life easier for those living and working in Dubai.
United Arab Emirates property developer Asteco reported on January 14th that sales prices for apartments and villas in completed developments across Dubai stabilised in the fourth quarter of 2009, with no change from the previous three-month period.
Rental rates in Dubai declined by 24 per cent for apartments and 18 per cent for villas on average across 2009.
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