The Abu Dhabi property market heavily favored renters and buyers in Q1 of 2018, with market data showing price decreases in all areas. both apartments and villas across the sales and rental sectors became increasingly affordable in Q1.
According to STR, hotels across the Middle East reported mixed Q1 2018 performance results, while hotels in Africa posted growth across the three key performance metrics.
Residential rents across Dubai registered no change during the first quarter of 2018, helping improve the annual rate of change to -3.1%, from -7.7% at the end of last year.
According to STR, hotels in the Middle East reported mixed performance results in January 2018, while hotels in Africa posted growth across the three key performance metrics.
According to STR, hotels in the Middle East reported negative 2017 performance results, while hotels in Africa posted growth across the three key performance metrics.
According to property portal Bayut, Al Reem Island is the most in-demand area among Abu Dhabi tenants this year with studios, 1-beds and 2-beds commanding AED 60k, 82k and 120k, respectively, (14% decline from 2016).
With positive government interventions to bring in more investors and diversify Bahrain's real estate market, retail remains a significant area of growth in the Kingdom's property sector.
Oman's GDP growth is expected to rise to 5.2% next year, aided by the introduction of natural gas production at the Khazzan gas field and the opening of the new airport in Muscat.
According to the latest property report from Cluttons, as the UAE government pioneers fiscal adjustment in the region in response to declining oil prices, milestones such as Expo 2020 and the introduction of VAT will play a key role in boosting the country's property market.
Dubai's vision to diversify its economy further and establish itself as a thriving global business hub has accelerated business activity in a number of innovative industries, in turn spurring a new stream of demand for industrial space.
According to the National Association of Realtors, existing-home sales rebounded in May following a notable decline in April, and low inventory levels helped propel the median sales price to a new high.
According to STR, the hotel industry in Dubai, recorded strong occupancy levels during the first quarter of 2017 despite continued and significant supply growth.
Weakening economic conditions, tapering off in demand for oil and gas, and an increase in real estate supply has led to increased pressure on the Bahrain real estate industry.
According to international real estate consultant Cluttons, values across Dubai's freehold residential areas slid by 8.8% in 2016, largely in line with Cluttons' original forecast for the year of -10%.
A slowing rate of decline across all sectors of the Dubai real estate market suggests increasing stability and the expectation of the market 'bottoming out' before the end of 2017, but the planned introduction of VAT on January 1, 2018 is already causing nervousness amongst existing commercial tenants.
There is a change in ultra high net worth individuals (UHNWI) property investment patterns, driven by political uncertainty, cooling measures and barriers affect traditional markets.
According to international real estate consultant Cluttons, the global economic anxiety and growth slowdown across regional markets has played a significant role in the decreased demand for industrial real estate in Dubai.
According to international real estate consultancy Cluttons, the current 'wait and see' attitude that has been adopted by potential buyers in Abu Dhabi is a direct result of wider global economic trends.
The recent election of Donald Trump as the 45th president of the United States of America is set to cause further uncertainty for the Middle East's real estate market, at least in the short term.