Dubai Property Market May Have Bottomed

UK 12 August 2009 - Our director Liam Bailey wrote an article on his new overseas property blog yesterday about how the Dubai property market may well have bottomed.

Liam is known as one of the fiercest critics of the Dubai property markets, even when it was getting rave reviews Liam was writing an article titled Don't Buy in Dubai, so it is quite strange to find him saying something so relatively positive about the Dubai property market.

Liam's article was based on recent research by Colliers international that found Dubai property prices to have dropped 51% from their peak, and that the rate of decline slowed from 48% year on year in Q1 to 9% year on year in Q2. He said that this could well mean prices have fallen far enough for the market to bottom, because at their 2007 levels we are practically back at square 1.