Property in Dubai 'increasing in price'

New statistics reveal that the price of property in Dubai has increased, which may give hope to potential investors.

Figures released by analysts at the Deutsche Bank show that the average price for apartment and villa property in Dubai increased by 6.5 per cent in June to an average of AED 1,285 (£213) per sq ft.

Nabil Ahmed, head of research at the organisation, says he is confident that the market will see steady growth in the coming months, which could appeal to prospective buyers.

"Recent numbers tend to confirm the stabilisation in the market we saw in May. This might not be the bottom yet but the worst increasingly looks behind us," he explains.

Deutsche Bank added that it expects to see new supply flowing into the market for the remainder of this year.

In related news, the EU-27 Retail Rent Index conducted by CB Richard Ellis shows that the average commercial rent fell by 11 per cent in the first quarter of 2009, which may appeal to those looking to set up a business in the emirate.