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Essay / Research Paper Abstract
This 4 page paper examines the property market in Dubai, the health of the market, where demand is occurring and the different influences on supply and demand. The bibliography cites 6 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEpropdubai.rtf
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Unformatted sample text from the term paper:
property advisable. Each of these inputs that create the equilibrium will have many influences. The influences seen in Dubai at the current time have been leading to a boom, with
house process increasing and many commentators believing that there will not be a later adjustment in the market (Anonymous, 2004). The general model is that were there a demand that
is excess of supply this will push the price up until sufficient buyers drop out of the market and an equilibrium is reached (Nellis and Parker, 2000). The converse is
also true (Nellis and Parker, 2000). Where the supply is in excess of the demand there will be a decrease in prices until sufficient new buyers are attracted to
the market, or until sufficient sellers decide not to sell, at which point there will be an equilibrium reached. In the Dubai market there is a position of excess demand
over supply. There has been speculation that the property market may have fallen with fears of a recession hitting the demand for
new and secondary market housing (Nair, 2002). This was feared in 2002, but even with the slow down in the economy the property market has had sufficient stimuli to carry
on growing (Nair, 2002). One of the main factors has been the way in which the economy has been developing with a
large number of ex-patriots in the area and the influence of international markets. The relaxation of the property laws has been a part of this increased internationalisation of the country.
Freehold property was one only available to Dubai citizens and international investor. This limited the market, especially the residential market. The situation today is that residents are able to buy
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