Property prices in the UAE aren’t going to go anywhere until the end of 2011-12, according an interview with Charles Neil, CEO of Landmark Properties and Landmark Advisory, published by the Property magazine.
At least in two years from now, he said, property prices will start to creep up as occupancy rates will rise and vacancy rates will come down, resulting in rising shortages later around 2014.
As typical economic cycle, the property prices cycle will build up again by 2015 or 2016 and probably prices will rise. Cycles typically work over about ten years, so seven or eight years after 2008, we can expect property prices to start rising again.
