The Dubai property market still offers opportunities for foreign investors, it has been suggested.

Nicholas Marr, chief executive of Homesgofast.com, said values in the emirate are currently going through a period of adjustment and noted that areas where property prices were pushed up by the business community are likely to see the largest reductions.

He commented that lifestyle buyers, who want to benefit from the country's warm climate and excellent range of amenities, should consider purchasing property in places such as Dubai Marina, Jumeirah Beach, Springs and Arabian Ranches.

"These areas will only improve as work continues with infrastructure improvements in the emirate making life even easier for those living and working there," he added.

According to the latest Colliers International house price index, property values in Dubai rose by seven per cent during the last quarter of 2009.

However, this represents a 47 per cent year-on-year reduction, the firm noted.