One swallow does not make a summer and the same might be said for a Dubai real estate recovery. There have been some good signs recently, namely a fall in mortgage rates, a stabilization of rents and asking prices, a new source of demand from Arab uprising refugees and an increase in second-hand property sales.
But it is a bit early to say if this is more than a temporary upturn that will be dashed by the huge upcoming supply of property of all types in Dubai. The completion of the super-tall Torch tower in Dubai Marina this month, for example, brought another 675 apartments into the Dubai inventory.
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