'Real estate sector remains positive'

Some investors have expressed concern about 'distress' sales as prices fall across Dubai, but analysts say the market shows positive signs and there's little to worry about.

While declining prices might have sparked some concern among investors, analysts say Dubai's real estate sector is showing positive signs. 

“Whatever ‘distressed’ sales are happening are driven by investors wanting a quick exit and not from end-users,” said Chandrakant Whabi, CEO at Acrohouse Properties. “Even then their asking prices have not come down by more than 5 to 7 per cent from what these [completed] properties were being quoted at the market’s peak in early 2014."

“A 5-7 per cent drop in asking prices does not constitute a sharp correction for the overall market to be concerned about."

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