Abu Dhabi Property in Post Recession World - By: Whatley

Abu Dhabi property sector has been underrated by foreign investors as Dubai properties had always outshined the developments that were taking place in Abu Dhabi.
Abu Dhabi real estate has constantly exhibited stability that became pronounced in the present recession hit world. The global financial crunch is having modest effect on Abu Dhabi property market which chiefly caters to its domestic requirements.
As real estate in UAE is having a tough time property in Abu Dhabi is being endowed with fresh plans where development work will start soon. Better recognized for its cultural inheritance Abu Dhabi land is now taking centre stage as many international companies are establishing offices in Abu Dhabi.

Though the Abu Dhabi market has softened, it has fared healthier than other parts of the Gulf. The prices of villas in Dubai fell by 39 per cent in the first quarter of this year from the last quarter of last year, although they are stabilizing in the most established communities. A UAE real estate expert said “ Investors are returning to investment fundamentals such as focusing on yield is a welcome finding, as is the suggestion that there is, at last, an end in sight to the current turmoil.” He further said “With Abu Dhabi and Saudi Arabia suggested as the hot spots for investors in the coming years, the MENA region looks set to grow in significance even further.” Loshini Lawrence, a broker at Better Homes said, while commenting about the situation of property in Abu Dhabi, “We have already had an increase in the number of transactions we have done a month to date.”
Khaleej Times published a report conducted by Standard Charted Bank on UAE real estate sector and overall economy. The report said that “the amount of distressed property on the market in Dubai has gradually diminished and that mortgage lenders have begun to ease their lending requirements. Official figures showing a net inflow of people into the country during the worst months of the crisis were reassuring.“One tangible sign of a marked return of investor confidence in the region is the number and success of recent bond issues, both by corporate and sovereigns”
Abu Dhabi Report for Q1 2009 issued by a renowned real estate firm based in UAE showed that a limited supply of residential and commercial units was the main reason for the high demand for quality apartments and offices in Abu Dhabi. Development, designing and branding firms working in Gulf region are very positive about the Abu Dhabi property market as Plan Abu Dhabi 2030 that will house 2 million people over a period of the next 20 years has been made public. A surge in the rates of Abu Dhabi property is expected shortly as real estate demand outgrows supply. So make a wise decision and invest in Abu Dhabi property now.

About the Author

Abu Dhabi real estate has constantly exhibited stability that became pronounced in the present recession hit world. The global financial crunch is having modest effect on Abu Dhabi property market which chiefly caters to its domestic requirements.

Article Directory Source: http://www.articlerich.com/profile/Whatley/53142

Additional Articles From - Home | Finance | Real estate