Arab Today, arab today saudi kuwait property markets \best for investors\
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Saudi, Kuwait property markets \'best for investors\'

Arab Today, arab today

Arab Today, arab today Saudi, Kuwait property markets \'best for investors\'

Kuwait City - Arabstoday

Residential real estate markets in Kuwait and Saudi Arabia are most attractive for investors while Dubai is showing signs of stabilising, investment bank Global Investment House said in a new report.Global\'s GCC real estate study said it still saw downward pressure on prices and rents in Abu Dhabi while commercial property was still suffering from oversupply across the Gulf region.The report said Dubai apartment rents decreased two percent in the second quarter of the year, following a similar fall in Q1. It added that villa rents maintained their Q1 levels without any significant declines. Selling prices dropped by three percent for Dubai apartments led by Downtown Dubai, which dropped eight percent compared to Q1 and DIFC (down seven percent) on new supply, Global said.\"In Abu Dhabi, rents of both apartments and villas declined at a fast pace, negatively affected by new deliveries during the quarter,\" it added.Apartment rents dropped another eight percent in the UAE capital in Q2, while villa rents dropped modestly on selective demand for ready to move in properties.Saudi Arabia\'s residential segment remained the most lucrative exposure, Global said, as demand significantly outpaced supply on growing population, business activity and an inherent shortage of residential units.According to the Saudi Arabian Monetary Agency’s Q2 inflation report, the index for housing rents and related items surged by 7.2 percent year-on-year after an 8.2 percent increase in Q1. Global said rents in Bahrain remained under pressure in Q2 but demand for affordable housing was still intact.Oversupply of office and retail space continues to exert a downward pressure on rental and selling rates, it said. The report said Kuwait\'s private housing segment remained active in Q2 amounting for 55 percent of total transactions value although the commercial segment continued to suffer from oversupply with vacancy rates still averaging around 20-25 percent.Oman residential rents continued to decline in Q2 with industry sources putting the year to date average rental decline at 15 percent, Global said.In Qatar, Global said the residential market continued to show signs of stabilisation in Q2 after a mixed performance in the previous quarter. From / Arabian Business News

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