Dubai 'stands up to analysis'

A study of Dubai and its property market reveals that it has more to offer than some press headlines suggest, it has been stated.

Referring to Dubai as a "city of rumour", organiser of the Worldwide Property Show Mike Bridge said that it has become popular to knock the emirate due to the fact that its property market has been so successful in the past few years.

In fact, he said, far from declining, the market is now underpinned by residents well able to move from renting to buying, with short-termist investment strategies disappearing and other forms of buying taking their place.

"Now, if you really analyse the situation, the country has the facilities to encourage overseas investors to buy a holiday home," Mr Bridge stated.

Figures from Colliers International for the first quarter of 2009 revealed that Dubai saw a major price correction in the period, with values falling by 41 per cent.

However, this may stimulate interest from buyers more able to afford to buy there.

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