Caution urged on risks in real estate sector | GulfNews.com:
"In its 2014 Article IV consultation concluding statement, the International Monetary Fund urged the UAE government’s continued focus on addressing potential risks stemming from the real estate market.
While acknowledging that the situation in the real estate market is different from 2008 in that price increases partly still reflect a recovery from the post-crisis trough and demand today is significantly less bank-financed, the IMF said by some measures, nominal residential real estate prices in Dubai have already reached their 2008 peak levels.
“The fast pace of price increases could trigger an intensification of potentially destabilising speculative demand and thus warrants close monitoring,” the IMF statement said."
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