Falling prices 'good for Dubai property market'
Investors have been urged to view the drop in Dubai real estate prices as a positive development.
As the Dubai property sector is still in the relatively early stages of development, many experts believe that an end to the recent period of rapid price growth will signal a move towards solid fundamentals, propertywire.com reports.
Blair Hagkull, managing director in the Middle East for Jones Lang LaSalle, predicted that 2009 is set to represent a "transitional" period for the Dubai property market.
He told the website: "By 2011, I expect the sector to be stabilised and matured in terms of return of investments, affordability and regulations.
"It's back to the basics for 2009 as the remaining liquid investors flock to traditional investment instruments such as direct investments and ownership of real estate."
Dubai's profile is set to receive a boost later this month when some of the world's top golfers head to the Emirates Golf Club for the Dubai Desert Classic.
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