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Dubai property prices on the rise
A new report from HC Securities said that oversupply persists and construction activity remains slow.
June 7, 2010 10:06 by Rasha Reslan
Property prices in Dubai are up 12 percent since the first of the year, HC Securities reported, according to Zawya.com Monday. Rising property prices have recovered “most of the losses following the Dubai World standstill announcement in November 2009,” the report said. Stable rents and rising transaction volumes were cited for the improved climate, although “oversupply remains the biggest concern,” the group said.
“There seems to have been a further slowdown in construction activity on existing sites,” the report added, and “…the development of raw land is being restricted.”