With many proeprty reports commenting on the state of the Dubai property market we thought it would be helpfull to offer our opinions based on our experiences through 2009 recent market reports show Q4 on property prices have stabilised on finished property with Palm Jumeirah holding values and was the first to gain momentum following the lows of Q1 2009, where properties on Palm Jumeirah were trading albeit in a distressed property market but activity has been steady and current through the year.

Property Prices generally in Dubai halved throughout 2009 from the peak of 2008 but very much gained some ground through Q3 and Q4 with the typical quitter period of Q3 with the Ramadan celebrations active.

Mortgage availability improved as the world’s financial markets stabilised and became more fluid through the second half of 2009 this helped fund a slight revival in Dubai Property fortunes.

Many investors still see Dubai as a good medium to longer term good haven for property investors with the announcements in the latter part of 2009 with both Irish, USA investors and of course local investments funds appearing.

The off plan market will remain and still remains suppressed with the reluctance of investors to tie money up in properties with no immediate return with rental incomes or for residents taking the benefit of upgrading, many of these off plan properties were bought much later in Dubai development resulting in Higher Original prices ( OP ) which currently do not stand up as current market prices, some investors paid 2500 upwards for a Dubai marina Property where you now can purchase a ready property within the Marina with price ranges from 850 aed to 1400 aed per sq ft dependant on the size finishing, location within the marina and the all important views and these investors will have to take a longer term view on their property investments, where flipping within a few months and gaining a positive premium will no longer take place and a 5 to 10 year view will probably have to be considered.

Payment plans will be all important in 2010 particularly post payment plans being offered by property developers with the necessity for most mortgage lenders to see 6 months residency and most requiring a significant deposit of up to 50% but this will ease as the market stabilises and property valuations become more accurate.

Key areas for property purchases have and will be focused around the Sheik Zayed road area in particular around Dubai metro stations, typicaly JLT, Marina Discovery Garden and the Business districts with outer lying areas there will be less activity until development catches up in this area, Palm Jumeirah being the only true beach front location will remain buoyant in our opinion.