According to a report, resulting to a buoyant first quarter that saw selling and lease price increases of between 10% and 15%, the overall prospects for the UAE real estate market stay bullish on the back of property sector reforms and a booming economy.
Abu Dhabi’s upbeat market then combined with Dubai’s recurrence as a leading international center will continue the thrust that began in the third quarter of 2013.
Real estate units in the UAE noted a standard selling and lease price increases of between 10% and 15% in the first quarter of 2014. This comes after reported highs of 35% to 40% in the fourth quarter of 2013.
Abu Dhabi went through relative steadiness in rental fees during the first quarter excluding the high-end and freehold properties which remain to command a high percentage of prices, increase.
As a whole, Abu Dhabi realty sector looks forward to the commence of new mega projects announced last year in the city area and the Al Gharbia region. In the residential part, some parts have seen improved in rents by almost 50%.
Fees continued to increase in the first quarter, nevertheless an average of 15% specifically in luxury one- and two-bedroom apartment units. The selling prices have seen a slowdown in the same time, averaging 10% after an increase of 20% for the last quarter of 2013.
After winning Expo 2020, Dubai real estate fee instantly escalated by an average of 20%. Nonetheless, development slowed down in the first quarter of 2014 bringing the property prices to a more practical level of a 10% to 15% raise. This trend will continue for the year as industries wait for the government to announce projects connected to the World Expo.