Investors are bullish and they believe that the United Arab Emirates and Saudi Arabia will perform the best, according to the survey by Jones Lang LaSalle.
But the international real estate consultancy's own analysts don't share the optimistic outlook and they are warning that short term investors should pull back.
More than 50% of property investors, developers and sovereign wealth funds who responded to the survey said that they believe real estate markets in the Gulf will see the strongest growth worldwide in the next one to two years, followed by Asia Pacific.
The survey also found that almost 50% believe the UAE, and in particular Abu Dhabi, will be the best performing market in the region, with a quarter of respondents stating Saudi would be the best performer.
'The Gulf Region offers strong relative international value with active buyers in the region,' said Ian Ohan, head of investment transactions for the Middle East and North Africa at Jones Lang LaSalle.
'Investors are looking for strong capital growth in Abu Dhabi, the kingdom of Saudi Arabia and Qatar, reflecting their robust economic potential and more nascent stages in the real estate cycle,' he added.
Investors feel the Middle East will be one of the regions least affected by the current global economic slowdown. Less than 20% of investors felt the slowdown is having a significant impact on real estate markets in the Middle East.
However Jones Lang LaSalle's own analysts do not take the same optimistic view. No real estate markets will be immune from the current finance crisis across the world, they claim.
And the global real estate market will not recover until 2011 at the earliest. Peter Barge, CEO of Jones Lang LaSalle Asia Pacific, went as far as to say that investors should pull their investment funds back from markets.
'Short-term, investors need to make some tough calls in 2009/10. I don't see opportunities re-emerging until after then,' he said during a speech at Cityscape expo in Dubai.
Barge said investors in Dubai needed to adjust their risk management and consolidate their positions, in order to take advantage of opportunities when markets recover.
He added that risk management is poor in the region and issues such as spiralling construction costs should have been considered by investors before they became a major challenge.
Inflation, infrastructure failing to keep up with demand and challenging delivery deadlines will also add to the problems, he added.