As one of the worst-hit economic sectors during the financial crisis of 2008, the property industry has witnessed some signs of revival in 2012. This year will be remembered for the pick-up in some segments of the market as Dubai continues to hold its ‘safe haven’ status.
Still, there are concerns about the property market that suggest it is still not out of the woods just yet, analysts say.
“Real estate has shown the first solid signs of recovery since 2008, particularly in the Dubai residential market. There has been a good uptake on newly completed stock and prices have strengthened both in sales and rentals but notably in the popular freehold communities such as Emirates Living, Palm Jumeirah, Arabian Ranches and Downtown,” said Helen Tatham, director of residential at Knight Frank.
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