Dubai housing - 'no bubble' says Standard Chartered
The recovery of Dubai’s housing market started in 2011. It has set the scene for a slow, strong and persistent rise in housing prices, pulled by real demand for housing from end users and a steady supply of new developments to match it. The market seems to be driven by fundamentals rather than excess speculation, in contrast to what the market went through in 2008. The outlook of the market will therefore depend on how these fundamentals evolve over time. Right now, we conclude that there are no serious indications of a speculative bubble in the housing market.