Saturday, June 27, 2009

DPRE Holdings Confirms Upward Trend in Dubai Real Estate Prices

The prices of luxury properties and properties in top locations in Dubai are showing a definite upward trend.

This was revealed by the findings of a survey conducted by DPRE Chronicle of its brokers in Dubai. The latest figures available at the end of the second quarter confirm the forecasts made by DPRE Chronicle on the basis of the data available in the first quarter of 2009. This segment has clearly bottomed out and is on the upswing. Local newspapers cite price increases from 20 to 40 percent. "Iconic" locations such as The Palm Jumeirah and Downtown Burj Dubai are at the forefront of this revival. A dozen other locations are already catching up.

The analysis clearly distinguishes between the positive trend in the top-level retail segment in select locations, and certain real estate funds, including European ones, which since 2008 have had to cope with severe problems. Potential investors should be aware of this difference. The macroeconomic environment of the Emirates is, nevertheless, investment-friendly.

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