Hi Guys
Now days everyone talks about the future of UAE property market. It is true that over all prices in the UAE property market increased in Sep
2008 with highest recorded for Dubai with 17% followed by Abu Dhabi with 11%. This price hike is gearing up again after a moderation introduced this summer. Some of the sources said that Dubai seems to be stabilizing thereby compressing rental yields. On the other hand when we see that things are reached a level where affordability is getting violated. Interestingly the government is in a full control to manage housing supply through its direct and indirect ownership in Dubai?s largest property development companies. Roughly 90% of upcoming supply in Dubai?s controlled by Nakheel, Dubai Holding & Emaar.While prices in the UAE real estate market are becoming unaffordable, Dubai unlike Abu Dhabi offers a wide range of housing units catering to most income levels. Property prices in UAE softening is not only a good omen but also necessary at this point of sustainability.
This is my analysis. But not sure about you guys?
Cheers Nawaz Landmark Properties Dubai