Dubai 2011 sales just off boom levels

In 2008, Dubai was the hottest overseas property market on the planet. Celebrities like Tiger Woods, David Beckham and Madonna were queuing up to get involved in real estate projects. Agents and developers made millions. Donald Trump led the way licensing his brand to Nakheel.

The rest as they say is history. The market crashed harder and faster than almost any other and some of the biggest names in property were left wondering how they got it so wrong.

With recent history still fresh in the mind, it’s difficult to comprehend the figures released by Dubai’s regulatory authority that show real estate transaction last year were just 9.5% their peak level in 2009 (Dubai crashed later than other markets).

In 2011, RERA figures show property transactions were AED 143 billion, up 20% on 2010 and approaching the 2009 transaction figure of AED158 billion.

Source: GlobalEdge.co.uk