Property in Dubai 'beginning to stabilise'

The market for property in Dubai will see stability by the end of the year, according to one analyst.

Ian Albert, regional director at real estate specialist Colliers, recently told Reuters that the industry will begin to see growth by the end of the year, which may interest potential investors.

According to the expert, any bottoming out will occur by the fourth quarter of the year, with the price of property in Dubai then slowly beginning to rise again.

"I don't think you can disconnect Dubai from the global community. Any positive news from around the world will have a positive impact on Dubai," Mr Albert told the news provider.

Christopher Chadd, head of research at Property Frontiers, recently said that investors who purchase real estate in the United Arab Emirates are making a "solid addition" to their property portfolio, with those snapping up distressed homes in the region most likely to bag a bargain.