Sales guide 'highlights property in Dubai'

A United Arab Emirates (UAE) expert has released a guide which assists people buying property in Dubai.

Consultancy company Landmark Advisory has issued a reference document which it claims adds "transparency" to the property market.

According to Charles Neil, chief executive officer of the firm, it is focusing on releasing monthly reports which can act as a point of reference for investors and give an accurate portrayal of house prices in the area.

"We have witnessed a price drop in the market that while continuing is showing signs of stabilising in certain locations. Sales prices vary markedly between locations," he comments.

The organisation estimates that the average price of a townhouse property in Dubai has fallen by 23 per cent over the last year, which may offer greater investment opportunities for overseas buyers.

Nasser Bin Hassan al-Shaikh, director general of Dubai's department of finance, recently said Dubai will be the first region to "bounce back" from the economic downturn.