On the dark side, Dubai prices have further dropped. On the bright side, the price drop has made the market extremely buyer-friendly. General home buyers and investors, for whom owning a property in Dubai was once a farfetched dream, now have thousands of homes, villas, apartments and commercial property in Dubai available for sale at unimaginably low rates.

To an enthusiast of this emirate, the present activities in the Dubai stock market and construction and housing sectors could only be expressed as terrible. Though the doomsayers would always maintain an ‘I told you so’ attitude, the truth is that the market is showing a response to two factors. One is the long term negative trend that has crept in since Dubai’s economy has been affected by the recessionary trend that has enveloped most nations of the world just after the financial crisis in the USA’s housing and banking sectors. The second, shorter term fiasco has resulted in a negative stand originating from the news that the Dubai Government was reluctant to bailout Dubai World from meeting its debt obligations.

So is this a good time to capitalize on Dubai’s property market and Buy Property in Dubai? Some analysts would say yes, others would say hold on because a further drop is expected. Still others would state that it depends on your holding power and the place in which you have invested or plan to invest your money. For example, villas and marina apartments are still seeing rising prices and a lot of activity in the property sector. The outlook for hotels and city apartments meanwhile is a bit muted, as the recent unemployment has led to an oversupply of available rental units and reduced rents in favor of the tenant.

Some analysts still maintain that we have not seen the worst of it yet. They point out that a lot of developmental projects are slated to be completed by end 2010. If we factor this in, the oversupply of apartments will be almost 33 percent compared to the 10 to 16 percent that we see now. That, say analysts, would be an exciting time to capitalize on the property sector. Others plan to wait till mid-summer 2010 since March-April is traditionally the time when the property sector has been at its lowest historically. But almost all property sector analysts are sure that a rebound will occur in 2011. We’ll just have to wait and see.

Anyhow, the current market correction, that many property developers in Dubai called inevitable, has made it possible for a large segment of the city’s residents and local and overseas property investors to own a property in as bustling a metropolis as Dubai.

According to Rohan Marwaha, Managing Director of Cityscape, Cityscape Abu Dhabi will remain unaffected and will retail the same name because this particular event focuses real estate developments in Abu Dhabi alone.