Welcome to the buyer's market

Across the UAE, brokers and property sellers are reporting that buyers have more strength in negotiations for buying or renting a new home. Last week, we put together a small guide for would-be buyers in the Personal Finance section. Take a look here. One of the most important points: Make sure your contract protects you if the developer starts having trouble delivering on its obligations.

Robert Ditcham, a reporter over at The National, also recently gave a frank account of his experience buying an apartment at the height of the boom. He later cancelled the purchase and bought again at a lower price, which shaved more than Dh500,000 off the original even with a penalty for breaking the contract with Aldar Properties. It's a good guide to taking advantage of a downward market.