Rumors of impending crises exaggerated: Bayut

23.09.2015
One of the largest Middle East analytical portals Bayut has presented its latest report on the UAE property market.

The general sentiment in the UAE property market is one of resilience, the latest report by market researcher Bayut said.

Bayut experts believe that rumors of impending crises and the adverse effects of the new construction boom are greatly exaggerated. According to their forecast, UAE real estate market will take an about turn in the coming months, especially when a new wave of buyers wishing to benefit from investment in the rapidly growing sector of affordable housing will come here.

Stabilization in Dubai sales sector coupled with rising rental prices have made the emirate's real estate a better-than-ever proposition for a buy-to-rent decision. And Abu Dhabi property market activity is heated by the new government initiatives in the regulations field, including the introduction of the rental index by the year end, as well as the limited residential supply.

Compared with August 2014, house prices in Dubai have decreased by 12-13% in the most popular locations such as Business Bay and Jumeirah Lakes Towers, while Downtown Dubai saw a slightest decline of about 3% year-on-year, and Dubai Marina has even saw a solid increase by 29% year-on-year in August 2015.

Abu Dhabi property sector is developing by its neighbor’s model, but also learns from its mistakes, emerging as a real estate force to be reckoned with, the report says. With the advent of new regulatory measures and ample opportunities for investment in real estate, UAE capital is likely to garner the interest of more and more investors in the coming months, the report said.

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