RAK and Sharjah lead Northern Emirates property revival - Business Intelligence Middle East - bi-me.com - News, analysis, reports:
"The property markets in the Northern Emirates have performed positively over the last 12 months, with Ras Al Khamiah and Sharjah leading the way, according to a special Cityscape Global, Northern Emirates report from leading UAE property management company, Asteco.
Residential rental rates in the Northern Emirates were directly affected by the property downturn in Dubai and experienced overall average declines of 33% compared with Q3 2008. However correlating to Dubai’s continuing upturn rental rates have now recovered by 21% on average since last year.
“The revival in property rates is particularly apparent in Ras Al Khaimah and Sharjah with both emirates pro-actively fuelling the economy and consequently their respective real estate markets,” said John Stevens, Managing Director, Asteco Property management."
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