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the current situation in the property market is a challenging one. However things are looking optimistic for the first part of the year and I can see that a lot of people have money to invest in property but are unsure of what and where to invest due to all the negativity in the air. We in the Real Estate Industry are here to provide a service and therefore should be positive in the answers we give to potential clients.

“For those clients who are looking to invest, now is the right time to take action as the UAE is still very good value for money compared with the rest of the world and still offers high returns on investment. There are many good bargains in the market at the moment due to the many distressed sales however the prices will change in the next three to six months so now is the right time to buy.”

“One positive thing that needs to happen to give the industry a boost in the UAE is for the banks, the Central Bank and developers to work together and talk with each other on a regular basis. If the banks relaxed their mortgage rules and offered 70 to 90% of the market value and reduce their interest rates as well as the Central Bank cutting their rates then this would restore confidence in the market.  Developers should also be transparent and liaise with Real Estate Brokers and clients to inform them if the development is going to be delayed and offer more flexible payment plans like the ones that exist in Europe.”

“On the other hand if clients are selling their property then there is good news as more and more deals are being done on a weekly basis in the Land Department. What we need to realize is there are two types of clients one being a speculator and the other being an investor. A speculator is someone who is just testing the market and needs to flip the property as quick as possible to see a return as they don’t have back up funds, an investor on the other hand is someone who will sit on their investment for as long as possible to maximize their investment. What existing speculators need to realise is that they more than likely purchased at launch price or under market value as it was off plan so they already have a profit (premium) so can adjust their prices accordingly for a quick sale or if you are an investor who does not need to sell at the present time but is just nervous due to the negativity in the market, if you wait three to six months the market will return, although not to the same as it was previously.”

“At the end of the day the UAE is a very wealthy country and both Dubai and Abu Dhabi are now a recognised brand all over the world, the infrastructure is still going on as is the projects that have started, and if you look at the 2030 plan for Abu Dhabi, http://www.upc.gov.ae/en/Home.aspx which is the richest city in the world the developments are edging closer to this plan each day so the future looks bright.”

“We also have a very close working partnership with the largest developer in the Caribbean an area which has not been affected by the Global Crisis where properties are offering a ROI of 31% and Capital Growth of 10-15% per annum. Please contact me for further details info@versailles-properties.com

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