The main reason for the unprecedented demand for property in Dubai and the sharp rise in prices is the lack of a unified framework for determining the value of the property and valuation factors. However, after the crisis, property prices in the region Middle East and North Africa fell by nearly 50%. Only the real estate market of Dubai total assets of real estate has fallen by almost $ 100 billion, excluding land assets. In order to stabilize and restructuring of real estate markets in the region, the leadership of various countries have introduced new rules, the guiding principle of which is the ability to accurately determine property prices. Thus, the resolution of the Government of Dubai to its citizens received as a gift to sell land at a price of 30% of the market, requires the successful implementation of the exact mechanism for determining prices. As a result of skyrocketing prices in the past three years, the average cost of commercial real estate real estate in Dubai has grown by over 110%.

Nevertheless, the crisis has made some changes and now, according to experts, the prices are back to the level of mid-2006. Such sudden changes in market and indicate the need for precise definition of real estate prices. The development of such a mechanism is difficult to determine the price that the number of deals in real estate markets in the Middle East and North Africa in 2009 and early 2010 was limited, so that there was insufficient data for comparative analysis of prices. In addition, real estate players in Dubai were forced to rely on inaccurate info, rumors and information from the media, because there was no access to official statistics, the real estate industry. It is worth noting that the absence of regular, accurate and professional evaluation of the real estate is the cause of growth financial risk for providing loans – banks and lending institutions, investors and business entities that own real estate, through which they operate.

Dubai property market is becoming more developed and open, so to demonstrate their independence and objectivity of the authorities is vital to develop and implement a single mechanism of real estate valuation. Property should be sold without any destabilizing factors, potential buyers and sellers must operate on the basis of rational motives, without any outside pressure. Government must play a key role in coordinating market implementing international standards of evaluation. And the leadership of the Gulf have already assessed the importance of introducing more vocational assessment procedures. The pioneer in this respect is Dubai, where the Agency on Regulation UAE Real Estate (RERA) has introduced a number of regulations to improve the quality of estimation value of real estate in Dubai. The current situation in the real estate market in the UAE is characterized by low levels of activity transactions due to lack of investor confidence in the future price level. Introduction to professional property assessment system can be a catalyst for the growth of confidence and transparency needed to Recovery of real estate in the UAE.