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The worst is behind for the real estate market - a view UAE Minister of Economy

01.02.2011
Homesoverseas.ru editorial office
30
The long-suffering real estate market the UAE has reached its bottom and by the end of 2011 will begin to show signs of recovery. This opinion was expressed at the end of January, the UAE Minister of Economy Sultan Al Mansouri, stressing that a reasonable market growth is quite possible in the near future. At the same time, market analysts suggest that in 2011-2012 the real estate prices in Dubai have already decreased by 60% compared to its peak, will adjust by 10%, as the market will continue to do a significant amount of offers - projects begun in 2007-2008. In the market of Abu Dhabi's real estate, which survived the financial crisis better than the Dubai dream prices by 45% compared with the maximum performance. According to Al-Maksurov doubts about the excessive volume of supply untenable "A lot of problems were solved in 2010, many projects have been stopped or changed. The market is now much better organized than in the past "- said Minister of Economy. He also refused to give a precise growth forecast for the UAE economy in 2011: "The growth will be, and a positive outlook. But no minister in the world we can not say for sure what will happen to the global economy. " The Arabian Business
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from 595 200 €
2 bedrooms
build area 103 sq. m
pool
sea/ocean view
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seller: Royal Home Real Estate
460 800 €
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