Cityscape to Cityscrape

Despite the upbeat sound bites from organisers prior to the expo, official figures now show that attendance for this year’s event was down by 50%.

Property in Dubai and real estate in the UAE seems set to fall further in value as the market mood darkens in the shadow of this news.

New build projects which originated last year are now nearing completion, adding an in-flux to a market seen as being already flooded with too much property.

Prices and rents are likely to see further falls in price, according to many of those polled at the exhibition, which this year was a more sobering and professional affair compared to the showbiz of previous times.

Rohan Marwaha, managing director of Cityscape, was keen however to point out that international support for the event has been increasing year on year, and 2009 has been no exception.

With property in Dubai now likely to see further price slides, investor advice has to be patience, caution, and buy for the long term. Even now values still represent a big bang for your buck compared to last year.