Arab Today, arab today uae worlds second hottest property market
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Beats Singapore, United Kingdom

UAE world's second hottest property market

Arab Today, arab today

Arab Today, arab today UAE world's second hottest property market

UAE's domestic wealth creation and growing population
Abu Dhabi - Arab Today

The UAE has been named the second hottest market for global residential property investors ahead of Singapore, the United Kingdom and Hong Kong, according to Savills, a UK-based real estate advisor.

"The UAE's domestic wealth creation and growing population and regional demand make it a wise investment choice,” the consultancy said in its latest "World Residential Markets” report, which analyses economic and demographic trends in 14 countries to forecast how much prices in popular cities will rise over the next five years.

The UAE stands out as a ‘safe haven' for both local and international investors in the Middle East, attracting businesses and capital from across the region and into the region,” Savills said, adding, "The economic growth is currently strong, growing 5 per cent per annum since 2011.”

The report further disclosed that the first half of 2015 saw prices fall by 7.7 per cent and a lower transaction volume in Dubai amid a wave of new supply and decline in speculative investment.

"Dubai is the most internationally invested city for residential real estate in the Middle East and much of Dubai's success is down to its multi-layered appeal as a business and leisure destination for a range of European and Middle Eastern markets,” the consultancy said.

Although residential values had fallen by 60 per cent between 2008 and 2011, it was in 2013 that the market recovered strongly, with Savills putting the increase to 39 per cent compared with the former highs. But in order to curb the market volatility, cooling measures were introduced in the second half of 2013, including mortgage caps across the UAE and Dubai doubling registration fee to 4 per cent from 2 per cent of the sales value.

"What makes Dubai's long-term prospects stronger than many other centres in the region is its reputation as a global centre of business. This has been underpinned by the city's hosting of the World Expo in 2020. Strides are being made in improving the city's infrastructure with the tram opening in 2014,” the consultancy stated.

The US leads the pack, with four cities Los Angeles, Miami, New York and San Francisco (likely to see the strongest mid-term growth). On the third place is Singapore followed the United Kingdom and Spain. Caribbean, Australia, Portugal, Italy, France, China, Hong Kong, South Africa and Switzerland take the sixth to 14th slot.

Cities such as London, Singapore and Hong Kong are expected to restrict growth relative to other cities over the next five years.

On the other hand, Shanghai, expecting population growth, has witnessed a long period of asset price inflation and will witness a period of rental growth before investors are attracted back into the market, the report said.
Source: Emirates 24/7

    

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 uae worlds second hottest property market Arab Today, arab today uae worlds second hottest property market

 



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 uae worlds second hottest property market Arab Today, arab today uae worlds second hottest property market

 



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 Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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