Outlook,real,estate,market,UAE business, insurance Outlook of real estate market in UAE and Dubai
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In the last couple of years or so, the real estate market outlook of the AUE is said to have improved significantly. Much of this improvement has been contribute towards all segments of real estate market here, experiencing currently a recovery and prime office rents once again witnessing a rise for the very first time, after a long time. With the market bubble in the real estate of 2008 in UAE had dropped its prices in Dubai, by about 65%! Hence, the government for avoiding repeating this unwanted performance has been trying to take appropriate measures for ensuring that sustained development does not get over exuberant.Recovering marketBut, more than 70% of purchases of property have been noticed to be made in cash, thereby, making it quite difficult for the respective government of the country to have market growth to be regulated. Experts tend to remain very much cautiously optimistic while watching the market of Dubai to make a steady and broader recovery. Although, regulations are yet to be in place for avoiding another debacle in the form of recession, experts are of the opinion that a repeat of what had happened way back in 2008 is not foreseen in the future. The real estate uae has been estimated to be about 18 to 24 months behind the market of Dubai. Therefore, plans are being made to help Abu Dhabi to experience a recovery that is similar to that of Dubai.Trends to look forReal estate marketing in the gulf has been expected to make its broad recovery in the coming few months and continue further. According to financial experts, six major trends are expected for determining this region’s market for the remaining part of the year and for the near future.The real estate market of Dubai is said to witness return in investor’s confidence. However, Abu Dhabi market is not likely to view such a similar upturn. Factors which are known to drive Dubai’s market gains tends to include UAE’s increased employment, economic development, safe haven status, enhanced rental performance and pricing, multiple new project announcements made in real estate over last few month and UAE Central Bank establishing new mortgage caps.Few factors are likely to limit development rate. IPO bonds, bank loans and Off-plan sales barely would support present growth rate. It means that most developmental funding is likely to come from overseas cash investors and private money.Most foreign funding is expected from South Korean and Chinese investors.Enhances real estate supply is likely to benefit tenants and buyers, however, might offsets positive market on overall market.Similarly, the current year also is sure to witness greater focus being emphasized on initiatives being taken for much more sustainable, ‘green’ buildings.The government of UAE would continue influencing growth of the real estate market with initiatives like stimulus packages and mortgage caps.These trends are known to support wide held view that real estate UAE market would witness broad recovery, which includes excellent, stable development if at least not any economic boom, not resulting in dangerous market conditions like that which took place way back in 2008. Article Tags: Real Estate Market, Real Estate, Estate Market
Outlook,real,estate,market,UAE