events that shaped uae real estate sector in 2011
Last Updated : GMT 20:41:34
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*

events that shaped uae real estate sector in 2011 events that shaped uae real estate sector in 2011

 



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*

events that shaped uae real estate sector in 2011 events that shaped uae real estate sector in 2011

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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