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UAE property sector shows recovery signs - study |
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09.07.2009 |
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Property in the UAE showed further signs of recovery on Monday after transaction volumes in June and July reached levels of the third quarter last year, a new report published on Monday found.
End-users remain the dominant buyers of freehold property in Abu Dhabi, but investors continue to make up the bulk of demand in Dubai, real estate adviser Landmark Advisory said in its August sales guide.
“Sales in both emirates during June and July 2009 have been the most active since Q3/Q4 2008, with the majority of transactions in Abu Dhabi focusing on nearly completed developments, while market prices in Dubai are stabilising in preferred locations and for specific unit types,” the report said.
In Abu Dhabi, average transaction prices for apartments have declined up to 10-15 percent since May, the report added.
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Source:www.arabianbusiness.com |
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