Now is time to buy property in Dubai

Investors looking for their next opportunity are well advised to buy property in Dubai as experts claim now is the time to snap up a deal.

Matt Green, associated director of research and consultancy at CB Richard Ellis, says recent falls in property prices and rents means now may be the ideal time to buy.

"In some of the developments prices have already bottomed out, providing excellent investment opportunities for investors," he adds.

Future projects due to be completed this year are also likely to be delayed, meaning a reduced volume of property in Dubai will come to market, making it more competitive.

Emirates Business also states a recent report from the Dubai Land Department adds that "interest from real investors is on the rise" but many are still choosing to wait until the market bottoms out.

It follows statistics released by CB Richard Ellis Middle East last week which showed the price of rent on office property in Dubai has dropped by 18 per cent.