The decline in global property prices has started to seep into Dubai, although it’s arguable that this is a short- term correction born as a direct result of the world credit crisis and the speculative nature of investors. No one can deny the fundamental strengths of Dubai in terms of tourism, trade, real estate investment and as a potential financial power house of the Middle East. The knock-on effect has been the pace of off-plan sales, which have inevitably slowed in recent weeks, although property that is completed or close to handover is still very much in demand and interestingly has seen minimal impact in pricing. Statistically the ratio of investors to end-users was originally 60:40. We have witnessed a turnaround, which is positive for the market as now we are seeing real buyers enter the market and purchasing for personal use. The UAE market as we see it today
