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Abu Dhabi property market at 'standstill'
March 10, 2010
Abu Dhabi's real estate market has reached a standstill with transactions at low levels in January and February, Landmark Advisory said on Tuesday.
Its latest sales guide focusing on the UAE capital forecast that property prices and transactions were not likely to increase on the back of recent mortgage rate cuts and the delivery of new units which are due to take place at the end of the second quarter.
Landmark Advisory said the limited transaction activity observed during the end of 2009 continued in the first two months of 2010.
Transactional prices in the capital have experienced only marginal declines of up to four percent, she added, as demand levels decreased and sellers become increasingly competitive.
Original Posting At: ArabianBusiness
Its latest sales guide focusing on the UAE capital forecast that property prices and transactions were not likely to increase on the back of recent mortgage rate cuts and the delivery of new units which are due to take place at the end of the second quarter.
Landmark Advisory said the limited transaction activity observed during the end of 2009 continued in the first two months of 2010.
Transactional prices in the capital have experienced only marginal declines of up to four percent, she added, as demand levels decreased and sellers become increasingly competitive.
Original Posting At: ArabianBusiness
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