Wednesday, April 20, 2011

No more distressed sales in Dubai, say experts

Dubai is seeing less of distressed sales these days, and is moving towards stability, say realty experts.

The Director at PropSquare Real Estate, Faisal Baig, agreed that there are less distress sales currently in Dubai. Several of the clients have come a long way from the crisis stage.

The Dubai Sales & Leasing Director, Elysian Real Estate, said that over the past one year, there has been a huge increase in units sold under market value, largely due to the requirement by owners to release cash. The market has now stabilized, with Dubai real estate market in particular, leaving a positive note.

During 2009 and early 2010, investors, particularly speculators, were almost supplying their units at half the price. The investors themselves were ready to sell their units at just 30percent from original price.

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Thailand Real Estate said...

It's nice to see the Real Estate Market in Dubai stabilizing. That's not only going to attract more buyers, but more investors as well. Things are only going to get better from there.