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Saturday, 31 December 2016

Worst is over for UAE property market | GulfNews.com

Worst is over for UAE property market | GulfNews.com:
"Increased jobs cuts across the UAE coupled with uncertainty in the macroeconomic environment were the main driving factors in the UAE’s property market in 2016, putting downward pressure on rents and sale prices.
In both Dubai and Abu Dhabi, sale prices and rents dropped in 2016, with prices in Dubai now around 15 per cent lower from their last peak, according to JLL, a property consultancy.
And while analysts expect to see further downside pressure in 2017, they believe the worst is over for the residential market."

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