The number of transactions and enquiries is expected to continue rising in 2012 with the supply/demand gap narrowing.
This review focuses on the three most dominant residential markets in the Eastern Province of Saudi Arabia, namely Dammam, Dhahran and Al Khobar.
The buoyancy in the economy coupled with a growing population has increased consumer confidence in Jeddah’s residential property market.
The residential property sector in Riyadh continues to be characterized by on-going increases in the price of completed residential units as well as vacant land.
The economy is being driven by strong demand across government, consumer and private sectors.
Since our Dubai property market update went to press in July 2011 we have been through what is traditionally the quiet time of the year for the UAE, further enhanced this year by the coming together of the traditional leave month of August and Ramadan.
There was little meaningful indication of a business rebound in Bahrain in the early part of Q3, although this was not entirely unexpected given that the combination of summer and Ramadan, are typically associated with a market slowdown.
The Abu Dhabi Government is continuing to rationalise its projects and implement major restructuring plans in some of its most important entities, making it more responsive to market conditions.
Jeddah residential market gained momentum with a robust upward trend as average prices and rentals continued to increase across the city.
Following the previous strong declines in the apartment sector, tenants have taken the opportunity to move to better quality accommodation.
Apartment rents have fallen on average by 6% compared with last quarter as shown in the Real Estate Monitor. This represents a small reduction in the rate of decline witnessed over the preceding three quarters.
Highlights and analysis from Dubai's residential and commercial property markets during the third quarter of 2011.
19 February
The road to home finance has been a long one for the Kingdom, but with its highly anticipated mortgage law edging ever closer to ratification, would-be homeowners and financial institutions are gearing up for a new era of opportunity.
With the announcement this year of a US$66.7 billion initiative to address the demand-supply imbalance in the Kingdom’s housing market, social infrastructure spend is topping the Government agenda as it focuses on building affordable homes for the future.
The South-East Asian island has seen a number of distinctive developments come to fruition over the past few years as the country further establishes itself.
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