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He added:
"The emergent supply-demand dynamic will increase the number of sellers willing to lease to end-users. Likewise, we anticipate that end-users will purchase units and lease them to generate income against their mortgages. Lenders are therefore likely to further stimulate the leasing market by launching new and dynamic buy-to-let mortgage products tailored for end-users."
Analysts from Landmark Advisory noted that despite dramatic growth in 2008, Dubai's property prices are still below those of comparable markets in cities like New York, London, and Hong Kong.
Kelaita concluded that "even if some projects get delayed or restructured in the short term as developers adapt to current challenges, we are optimistic about the market's strength and growth potential."
In October, Landmark Advisory released an inaugural report that assessed the impact of the global financial crisis on Dubai's property market.
Landmark Advisory is the newly launched research and consultancy division of Landmark Properties. Its mission is to provide high-resolution market intelligence and cutting-edge consulting services that cover the Middle East and North Africa (MENA). This commitment to research excellence will enhance the retail operations at Landmark Properties with innovative analytical products backed by 'best-in-class' due-diligence.
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Posted by Siba Sami Ammari
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