Dubai Property Market in 2007/2008

Dubai Property Market in 2008

The unprecedented growth in property prices and land sales in Dubai is most likely to be sustained in 2008. There is an ever burgeoning demand for space - both residential and commercial - in the emirate, and of course, scores of projects will be handed over in the new financial year. Consequently prices are bound to rise dramatically, especially in the second quarter of the 2008. Premiums and rates are expected to increase in areas like Dubailand, as the first batch of developments within this sprawling project approach completion in 2008.

UAE currency revaluation and local property market

Investors who have already broken ground in the lucrative UAE property market, especially Dubai would view the impending currency revaluation as an added bonus, because that would mean the dollar value of their profitable assets will go up in direct proportion to the correction.