Dubai in danger of property 'overheating'

Dubai property prices could be down by 10% by 2010, according to a new report. This is despite the opening of Concourse 2 at the new Terminal Three which will ease the overcrowding at the Dubai Emirates Airport. One would have thought that with the opening of this $US4.1 billion terminal, property prices would have direct positive impact.

But investment Global Investment Banking firm, Morgan Stanley predicts otherwise. Prices in the Dubai property market have risen a massive 79% since the start of 2007. Morgan Stanley report concludes that oversupply to hit Dubai in 2009, will leading to a period of price declines.