Dubai and a healthy house price correction

[Nicholas Wallwork]

If we look back to the worldwide economic crisis which began in 2008 we saw a Dubai real estate market which was riding high even in the midst of the worst worldwide economic downturn in living memory. Supporters of the Dubai market suggested it was insulated from the worldwide situation which unfortunately encouraged more buyers

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Comparing the Dubai real estate market today to that from 2009 is like comparing apples and pears. Regulations have been tightened, a minimum 25% deposit is required for property purchases and investors are certainly more confident investing in the area. There is nothing wrong with a gradual "market correction" as long as it does not gather unwarranted momentum on the downside. That said, there do appear to be buyers lurking in the background waiting to take advantage of the ongoing correction.