Arab Today, arab today events that shaped uae real estate sector in 2011
Last Updated : GMT 16:24:37
Arab Today, arab today
Arab Today, arab today

Events that shaped UAE real estate sector in 2011

Arab Today, arab today

Arab Today, arab today Events that shaped UAE real estate sector in 2011

Dubai - Arabstoday

It seemed a mixed year for the real estate in the country. Some buyers took advantage of affordable home prices and low interest rates whereas others preferred to sit on the sidelines and monitor the market before taking the plunge. \'Emirates24|7\' spoke with experts in the industry to find out the most important events, both external and internal, that had an impact on the UAE\'s real estate sector in 2011. “The events that took place in 2011 that had an impact on property prices were mainly external, although there were some UAE events that made an impact,” Charles Neil, Chief Executive Officer, Landmark Properties, told this website. According to him, the positive internal events were: “Changes in visa regulations allowing owners of properties of over Dh1 million to have a 3-year residency visa, mortgage rates continued to fall and banks were more liquid, oil prices remained buoyant which supported the local economy, announcements by Emirates Airlines and Dubai Civil Aviation expanding the aviation sector and supporting growth of tourism.” On the other hand, events that had a negative influence as per Neil were mainly, “Planning review by Abu Dhabi resulting in job losses and [the fall in] stock markets.” Talking of the external events, he added: “Arab Spring highlighted the UAE as a safe haven for investment.” “[The] US budget crisis, Euro crisis/European debt crisis, slowing down of BRICS economies and threat of another recession, falling rupee, falling Iranian Riyal,” were the negative as stated by the Landmark expert. “The overall effect of all these factors was that prices in some areas stagnated and stopped falling, but overall the prices for sale, and rentals fell for apartments and commercial properties albeit at a slower pace. More investment/sales purchase transactions did take place in 2011, but could have been higher had it not been for the bad news out of Europe,” he explained to this website. Vineet Kumar, Head of Business Development, Asteco, Dubai believes that 2011 was much better for the real estate in the country as compared with the previous years. “Financing has remained tough since the property downtown began in the third quarter of 2008 but sentiment has improved as banks began to offer more attractive mortgage rates this year. The government’s declaration that property buyers in Dubai will be given a visa for three years instead of just six months will also help boost investor confidence. Transaction levels have also risen as job security and increased market confidence result in people seeking tenancy upgrades and home ownership,” he said.

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 events that shaped uae real estate sector in 2011 Arab Today, arab today events that shaped uae real estate sector in 2011

 



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 events that shaped uae real estate sector in 2011 Arab Today, arab today events that shaped uae real estate sector in 2011

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
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: عقارات
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 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
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