2009 Will be a buyers' market

Market research released this week showed that house prices fell eight per cent in the final quarter of 2008. While speculation is still rife on rent and ownership prices for 2009, Emirates Business studied the market in 2008 and the current scenario.

Real estate experts say it is still too early to predict this year's trend in the property market.

"Once the first quarter of 2009 is over, we will be able to fully compare the trends of the last two financial terms to understand where the market is heading," said Ian Albert, Regional Director of Colliers International.   

Market price 

Top five developments

(by value)

- The Palm Jumeirah – Villas

- Downtown Burj Dubai

- The Palm Jumeirah – Apartments

- The Greens

- Dubai Marina

Top five developments

(by transactions) 

- Dubai Marina

- Jumeirah Lake Towers

- The Springs

- Jumeirah Beach Residence

- Downtown Burj Dubai

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