Arab Today, arab today property markets in uae set for stability
Last Updated : GMT 10:54:12
Arab Today, arab today
Arab Today, arab today

Speculation in off-plan projects in 2015

Property markets in UAE set for stability

Arab Today, arab today

Arab Today, arab today Property markets in UAE set for stability

Reem Island was the most searched-for property location in Abu Dhabi
Dubai - Arab Today

The property markets in Dubai and Abu Dhabi are expected to be stable this year although there are some fears that speculation in off-plan projects could lead to "excessive price growth” in Dubai.
The findings are part of property website Bayut.com's annual UAE market report for 2014, which shows a renewed confidence in the property sector in the two largest emirates.
"Construction activity is picking up pace again thanks to the revival in real-estate developments and infrastructure projects,” said Bayut.com chief executive Haider Ali Khan.
"The recovery in real-estate prices, a bounce in bank financing for construction and the return of off-plan sales, in particular, have motivated developers to resume the projects that were on hold in both Abu Dhabi and Dubai.”
The report highlighted Dubai Marina as the most searched-for property area for sales and rental searches in that emirate, with Al Reem Island topping the search for both categories in Abu Dhabi.
The report noted that Dubai Government's introduction of new regulations have helped to stabilise growth and slow down further price increases. In addition, the Central Bank has imposed a 75 per cent mortgage cap for expatriates and an 80 per cent cap for Emiratis.
Despite this and an increase in transfer rates from 2 per cent to 4 per cent, Dubai continues to be a magnet for capital.
Expo 2020 is also giving investors more confidence in the country's hospitality sector, with a further boost in tourism expected as the event approaches.
"However, there are still concerns that returning speculation, including through off-plan sales, could make Dubai head towards excessive price growth and rapid overdevelopment,” Mr Khan said.
Foreign investment is also playing an important role, with half of real-estate transactions, which total Dh113 billion, made by overseas buyers last year.
Indians invested the most, at Dh10bn, followed by Britons, at Dh5bn, and Dh4.5bn from Pakistanis. GCC nationals combined made up Dh33bn of real-estate transactions.
Source: The National

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today property markets in uae set for stability Arab Today, arab today property markets in uae set for stability

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today property markets in uae set for stability Arab Today, arab today property markets in uae set for stability

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday