Markaz anticipated the rental volatility to exist with supply of homes continuing to outstrip demand in the short term. Also the house loan lending would continue to be on the bottom this year due to Dubai banks settlement of the Dubai World debt standstill.
Thursday, April 8, 2010
Downward trend for house sales in Dubai continues
Dubai real estate won’t see a rise in Real estate transactions for the year 2010. A new study reveals that’s prices will dip further before stabilizing in 2011. Kuwait Financial Centre (Markaz) predicts that an increase in the property sector would correspond with a return to population growth in 2011. The report says that the segment contracted in all metrics such as transactions, rentals and prices and is expected to contract further during 2010.
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