Back to Basics for Dubai Property

Dubai's property market is currently in the doldrums, but it needn't be that way. Dubai has all the things that overseas property buyers are looking for in a destination, great accessibility, great beaches, and a great climate.

Dubai took off as a hot destination because of those things, and the fact that property was cheap. This spiralled as Dubai became the pinnacle of the modern world, prices grew rapidly and soon the strength of Dubai property was Dubai property's only strength.

That is to say property was being bought by the bucket load by speculative overseas investors and the entire boom was fuelled by buyers from overseas, who were almost all buying because of Dubai's strength when it came to return on investment. So when the foreigners became thin on the ground, the investment strength diminished, which got rid of the rest of the buyers (if there were any left).

Now that we have all seen how vulnerable Dubai was to international conditions, it is unlikely to become as hot a destination for overseas investors again unless something drastic changes. I believe that change should be: back to basics for Dubai property.

Market it on its strengths, and let people judge its investment potential based on its other strengths. For Dubai, the international recession has almost pressed the rest button on property prices; property is comparatively cheap once again.

With the strengths above, this puts Dubai property back onto a level playing field with the other warm weather emerging markets; with a lot of advantages: if people can be attracted to start buying again, it will oil the wheels of construction and Dubai's growth into one of the world's modern wonders can be restarted. This will then become another basic strength upon which it can be marketed.