Nicosia, Cyprus (PRWEB) March 21, 2006
The future prospects for Dubai’s investment property market are uncertain as evidence exists to support both theories of impressive expansion and dramatic collapse.
The property investment experts at Amberlamb have been bold enough to ask the question that has been at the back of many people’s minds for a number of months -- ‘is Dubai’s real estate market poised on the brink of an impressive rise in fortunes or teetering on the verge of a spectacular collapse?’
The evidence that has been collated in an attempt to answer this previously unspoken concern proves that experts are significantly divided in opinion when it comes to assessing the future prospects for Dubai’s property market.
On the one hand there exists evidence to support the theory that the recent passing into law of the right of foreigners to obtain freehold ownership of real estate in certain areas of the emirate will result in an upswing in the fortunes of Dubai’s property market…
Those property investors who were waiting for the uncertainty surrounding the title deed issue in Dubai to disappear before investing can now enter the marketplace for example. Those speculative investors who had bought property before the ruling and who wish to resell can now do so without having to pay excessive charges and fees to property developers for the transfer of ownership documents. Therefore a brand new resale market could be born in Dubai and the emirate’s property market may be about to witness a fresh surge of property investor interest.
Both factors would suggest the property market in Dubai is about to enjoy an impressive rise in fortunes.
On the other hand there exists evidence to suggest that property developers in Dubai are trying to lure buyers back to the market with the promise of luxury incentives to those who buy off plan property stock which may suggest that developers are experiencing a slowdown and a difficulty in selling off unsold real estate units. Furthermore there is absolutely no denying the evidence that exists that Dubai’s infrastructure is under pressure and strain and that anymore construction could result in critical failure in the form of gridlock on the emirate’s main roads or a collapse of the emirate’s drainage systems for example.
If Dubai’s backbone cannot physically cope with a property boom then there will be no future for the property market in Dubai which is why the government is committed to improving infrastructure -- but at what cost?
Allegedly plans exist to construct large new road arteries through some well established and highly priced residential neighbourhoods where expatriate residents are up in arms and may have to face a dramatic drop in their properties’ prices.
All of these factors could suggest that the property market in Dubai may be on the brink of a spectacular collapse.
The evidence and data collated by the property investment specialists at http://www.Amberlamb.com is unbiased and presents a fascinating insight into the confusion that abounds in Dubai’s property sector today.
http://www.Amberlamb.com are online publishers of impartial and independent overseas investment property news, information and guides.
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