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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The UAE real estate market is set to stabilize in 2018

    Rocky
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    The UAE real estate market is set to stabilize in 2018 Empty The UAE real estate market is set to stabilize in 2018

    Post by Rocky Thu 07 Sep 2017, 3:31 am

    The UAE real estate market is set to stabilize in 2018

    The UAE real estate market is set to stabilize in 2018 2201
    The UAE real estate market is set to stabilize in 2018 Text The UAE real estate market is set to stabilize in 2018 Html The UAE real estate market is set to stabilize in 2018 Print
    The UAE real estate market is set to stabilize in 2018 Arrow Arabic and International
    Economy News _ Baghdad
    Real estate consultancy Cluttons has predicted that the UAE property market will witness widespread stability and growth rates in some sectors by the end of 2018, benefiting from financial reforms in response to low oil prices. 
    "The high rate of economic expansion during 2018 and 2019, supported by higher spending levels," she said in an annual report on the UAE real estate market. "Projects and events such as Expo 2020 and Value Added Tax will play a key role in driving real estate development efforts .
    "There are a number of positive indicators on the horizon for the property market, awaiting the fourth quarter of this year, while the Expo 2020 is seen as the bright light on the horizon." "The government's plan to impose a formal tax regime is an additional positive step, and we are confident that it will serve as an alternative source of income for the local economy and as the market begins to take account of the changes caused by the new tax, we expect to see stability and sustained growth." 
    "The first six months of this year saw poor performance in the value of residential properties in Abu Dhabi's main residential investment property areas, with prices falling 0.9 percent," he said. He pointed out that «this slow pace of declines contributed to the improvement in the annual change in prices to 6.3 percent during the 12 months ended June, compared to 7.5 percent at the end of the first quarter».
    "The Khalifa Industrial Zone is the nucleus of general industrial activity in Abu Dhabi, where international logistics companies compete to establish themselves in the largest free zone in the UAE ... As a result of continued weakness in demand, the average rent of Class I offices decreased by 50 dirhams Per square meter to AED 1,800 at the end of the second quarter, or 10 percent from last summer. Second-class rents of AED 900 per square meter fell 25 percent, while third-floor rents dropped 19 percent to 650 dirhams per meter Square". 
    The report predicts that rents will be between 5 and 10 percent in all regions by the end of this year, while the performance of the market will depend on the ability of the economy to recover from the weakness caused by the drop in oil prices, likely to start rents slightly lower in case of continued weakness Economic growth in 2018 ».
    The Cluttons report stressed that property values ​​in the various residential investment areas in Dubai continued to decline during the second quarter of this year. The apartments are still performing better than the villas, with prices falling 1 percent in the second quarter compared to 2.2 percent in villas. 
    Cluttons' forecasts come in further corrections in the rental market this year after expectations of a 5 to 7 percent rise in rental rates by the end of the year, compared to 2016, but as in the sales market there is a possibility of stability as the effects of the show begin. Villa rentals are expected to fall by 10 percent by the end of this year, while apartments are expected to achieve greater stability.
    Many tenants are expected to start taking this into account in their 2018 plans, suggesting that the current outlook could last longer than expected, and the impact of Expo 2020 on the real estate market, Demand in a big way ». 
    The Emirate of Sharjah is expected to continue to maintain its position in the real estate market as a affordable alternative to Dubai. The emirate has emerged in the real estate market among the large expatriate community, thanks to its strong focus on promoting its position as a family destination in the UAE. Tenants.
    "The villa market is still offering good real estate value compared to current prices, compared to Dubai and Abu Dhabi, where families and families facing a significant rise in the cost of living for the reasons described above are looking for research," said Susan Evley, head of real estate at Sharjah's Cluttons. For less expensive options in Sharjah, which has led to a significant shift in the performance of the villas market, where demand rates have now increased to the levels of units offered ».


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