For all of the hubbub that the Dubai World debt repayment fiasco has established, it appears to be that selling and purchasing property along Dubai's marina front is strangely unaffected by this event. If the truth be told, construction and dealing in Dubai marina properties has continued silently even through the worst days of Dubai's present debacle. Whilst the quantum of deals has been few, it is the size of each deal that's made the impact. For many, properties along Dubai's marina front are some of the very most prized in the emirate. It's very proximity to the city while giving one panoramic views of unparalleled beauty across the marina front makes it among probably the most sought after properties by the locals, foreigners and celebrity elites. Thanks to superior marketing efforts, Dubai marina properties now command rents and prices which can be enviable by world standards.
Up to the midst of November 2009, it was seen that numerous Dubai marina apartments were still selling at prices higher than the original purchase amount quoted. At that time, most property owners looked to be in a hurry to sell off their properties, because it was rumored in knowledgeable circles locally a possible default could occur on the part of Dubai World in regards to its large debt repayments.
Now it appears that the marketplace has dropped, if limited to the short term. Analysts say that the existing downturn is a reflection of the marketplace correcting itself, and this is a good thing because the costs are receiving more realistic every passing week.
On another hand, this does not bring good tidings for anyone in the financial industry like the mortgage lenders. For them the current situation is dicey, because it serves to halt the promotion and sale of new mortgage broker Dubai if activity is slowed up and returns have minimized. In the long term it is a truism that state of affairs if not corrected could prove disastrous for the housing and financial sectors. If anything, analysts recommend that at this time, investors and buyers should become active in the property market to get properties at affordable rates so that they may reap huge profits when the marketplace rebounds. If perhaps there were more positive signs of a recovery in the property market, financial institutions such as for example banks and mortgage companies could be willing to channelize more funds to the housing sector so that end-users could purchase available properties.
Quite clearly the marketplace is divided on the continuing future of the property sector, others opining that scenario does not necessarily reflect a fall in property values. They are confident it is a temporary condition, that will be probably be resolved as soon as the Dubai World debt repayment issue is settled once and for all.
Overall, the Dubai Marina front is apparently least hit by the financial worries of Dubai world or the emirate. Dubai Marina property dealers look unfettered while they quote their prices and business carries on as usual. Dubai Marina Apartments look to command the eye of buyers and sellers for a while to come.