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April 4th 2008
09:51:05 PM
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April 4th 2008
09:50:09 PM
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March 26th 2008
02:55:32 PM
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January 1st 2008
11:59:52 PM
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Commercial Realtors

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December 28th 2007
07:35:19 PM
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Commercial Realtors

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December 7th 2007
02:30:51 AM
your name:  

Arevik

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Dubai

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Property rates of residential units in Dubai property are all set for a downfall, but only in 2009. Due to a slow pace in the coming up of new property projects in Dubai Property this year, the impending plunge in property prices in the emirate has been delayed. In the current scenario of Dubai Property market, the residential property prices will soar to their zenith, possibly by the later half of 2008 before falling down. In other words, the prediction made by Dubai Property analysts last year that property rates in Dubai Property would fall in 2008 has been put off for another year.
2007 has been a slow year in terms of the number of completed projects handed over in the Dubai property Property market. Of the estimated 57,000 property units due to be completed, only 11,000 have come up so far. The supply-demand ratio of residential property units in Dubai Property has to be revised in order to accommodate the estimated 25,000 residential units for 2007, 64,000 for 2008 and 68,000 for 2009. The demand for residential units in Dubai Property has been on the rise and will continue to do so in direct proportion to population growth in the coming years. By 2010, the population of Dubai Property will be around 2 million and to meet this demand, on an average 45,000 housing units are required every year.
According to Dubai Property market analysts, property rates will soar by 10-15 percent and 5-10 percent in 2007 and 2008 respectively. By 2009, property prices in Dubai Property will begin a downward journey resulting in a cumulative dip of 15-20 percent by the year 2011.
Having said this, a lot depends upon the delivery of completed housing projects in Dubai Property matrix. Moreover, the much talked about property boom in Dubai property is expected to continue at least until the end of the decade.

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December 6th 2007
02:55:45 AM
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Qodir

where you are from:  

Dubai

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Dubai property real estate experts wonder whether the state of global markets recently can fuel the real estate boom in the emirate or dampen its spirits. August has been a phenomenal month for global capital markets as they witnessed a credit crisis. Dubai Property has been no exception. However, the effect on Dubai Property real estate market is something that still needs to be seen.
View – Dubai Property real estate slowdown was inevitable
Some real estate experts feel that the slowing down of the real estate boom in Dubai Property was inevitable, more so with the coming up of the new law that necessitates opening of escrow accounts for Dubai Property real estate developers. This means that the funds of off-plan buyers will only be released on the permission of the Dubai Property Land Department.
In this context, the global credit crunch last month has resulted in making borrowing difficult. This can have major implications for real estate sector in Dubai property. Even the Dubai Property government, which is the largest real estate developer in the region, will now have to pay more for obtaining debt through Islamic bond issues.
Implications of soaring cost of money on the Dubai Property real estate sector
For real estate developers, money means a cost to be juxtaposed against the probable returns on investment on a particular project. The corollary to this is that the higher the cost of money, the lower the returns and a lesser probability of the project reaching an end.
The double impact of tight account rules and the difficulties in obtaining credit will give a tough time to real estate developers in Dubai Property. One offshoot of this can be a slowdown in the coming up of new construction projects in the Dubai Property real estate market.
It still remains to be seen whether this will have a good or bad effect on the house prices in Dubai Property. On the one hand, there can be a rise in the value of the present homes in the Dubai property real estate market. On the other hand, there may be a dent in people’s confidence in the real estate sector in Dubai Property.
Steps Dubai Property Government can take to curb rising difficulties for real estate sector
Real estate analysts hope that the Dubai Property government, with its pivotal role in the real estate developments across the emirate will take prompt steps to counter the current circumstances.
A few options:
o Special mortgage offers
o More focus on the rental market
The present situation being a little vague, it will take some time before the dust settles after the storm and things can be seen in a newer light. For now, all we can do is to hope the best for Dubai Property real estate market in the coming months.

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