Overheating risks arising in Dubai’s real estate market | Economy | Saudi Gazette:
"While China is consolidating its state-led moderation, prices continue to climb in Dubai, Asiya Investments said in its latest weekly analysis.
The recent economic slowdown in China is having a profound effect in many of its sectors. The property market in China, which has been showing clear signs of cooling down in recent months, is one of those in which the slowdown is expected to be more intense. Price growth peaked late last year, reaching a yearly rate of 9.9 percent, and has been trending down ever since. In fact, the month-on-month growth rate has been negative since May, reaching monthly declines of nearly a full percentage point. Second-hand house prices contributed the most to the moderation of property prices, failing to grow in 19 out of the 70 most prominent cities in China.
Chinese authorities have been trying to moderate overheated real estate prices while meeting the large demand arising from urbanization. A heterogeneous set of measures such as a tax on capital gains, ownership restrictions for residents and mortgage rate hikes have already had a noticeable impact on the market. "
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