Dubai real estate downturn likely to continue into 2010 due to oversupply, ratings agency warns

[Nicholas Wallwork]

The residential property market in Dubai remains oversupplied and the downward trend is likely to continue until the second half of 2010, according to the latest ratings report.

Large scale lending has not returned to the property market and the number of delinquencies is on the rise, says credit ratings agency Moody’s Investors Service in a special report on the emirate.

The Dubai residential property market generally remains oversupplied and the downward trend in the market is unlikely to stabilise before Q2 2010,’ the report says.

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[georgihh]

The residential property market in Dubai remains oversupplied and the downward trend is likely to continue until the second half of 2010, according to the latest ratings report.

Large scale lending has not returned to the property market and the number of delinquencies is on the rise, says credit ratings agency Moody’s Investors Service in a special report on the emirate.

The Dubai residential property market generally remains oversupplied and the downward trend in the market is unlikely to stabilise before Q2 2010,’ the report says.

Click Here to Read The Full Story and Add your Own Comments to Dubai real estate downturn likely to continue into 2010 due to oversupply, ratings agency warns

Nothing new, I can predict the same.

 

[sasherwani2]

cough cough..*



By the way the fall shall continue till Q4 2010 not just Q2 2010.