Property prices in the UAE sustained an increasing trend during the first half of 2014, however there was a general slowdown in the market as hot properties changed fewer hands this time around and market activity maintained towards immovability.
Regardless of the reserved beginning and the veer of laws that established to be relatively efficient, houses and apartments in the UAE, and Dubai specifically, experienced controlled advances joined with occasional tactical slowdowns.
The property doorway recorded slow activity in Dubai’s residential market during the first half compared to remarkable 2013 numbers. Abu Dhabi, nevertheless, successfully supervised to post good numbers for the sixth succeeding quarter.
Both emirates welcomed new residents and the rents shot up as a result. Sale prices also continued to move in growing direction and generally the UAE’s real estate sector achieved reasonably well in the first half of 2014.
The property market of Dubai is known to excel, however like everything good, it needs to be managed with tremendous care.
The Abu Dhabi realty market and allowed it to celebrate the sixth successive quarterly increase in the second quarter of 2014.
It said sale prices in the Abu Dhabi residential property market recorded strong double-digit growth in the first half and mounted by an average of 16% as it climbed 7.3% on a quarterly basis.
Abu Dhabi welcomed the totality of 1,750 residential units in the second quarter and that went satisfactorily with the job progress that resulted from the beginning of some major construction projects backed by the government.
In the first quarter of 2014 handled to carry the prosperity of 2013 with it, and noted that the bullish trend in Dubai’s realty market commenced to spell caution for the emirate and the governing bodies who introduced required steps to control the market from overheating.
Real estate consultancy also stated in its current report that demand for affordable housing units continued to fascinate new tenants from Dubai to Sharjah and Ajman in the second quarter, as a result, leasing enhanced by 3 and 7% cent, correspondingly.