GCC property prices to slide further in H2, says S&P - Real Estate - ArabianBusiness.com

Property prices and rents in the Gulf will continue to fall in the second half of 2011, Standard and Poor's has said in its new outlook report on the region.

The rating agency said property developers in oversupplied markets, such as the UAE, are likely to continue to scale back development activities in favour of rental and management of existing property stocks.

As markets in the GCC region mature, S&P said it expected to see greater emphasis on urban regeneration with 'a pronounced shift away from high-end residential development toward affordable housing', particularly in Saudi Arabia.

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