The real estate market in the UAE continues to grow

After two years of strong growth in prices real estate market in Dubai and Abu Dhabi continues to grow, according to the latest consulting agency Jones Lang LaSalle and REIDIN, reports globalpropertyguide.com . According to Jones Lang LaSalle price index for residential real estate, as of November 2013 for the increase of 24.9% over the past 12 months, while in Abu Dhabi, this figure rose by 19.7%. According to the report, Jones Lang LaSalle in the third quarter of 2013 the prices of apartments in Dubai rose by 20%, on the villas - 14%. According to the same report, housing prices in Abu Dhabi increased by 18.6% in the third quarter compared with the same period in the previous year. In the construction sector in Dubai and Abu Dhabi also continues to actively increase. For the third quarter of 2013, according to Jones Lang LaSalle, it was built around 3400 new facilities in Dubai and around 2700 in Abu Dhabi. In order to avoid a new "bubble" in the real estate market of the UAE Central Bank sent banks on mortgage agreements circulars. In addition, the Land Department of Dubai raised on registration of property tax from 2% to 4%. HomesOverseas.ru