The UAE Property Report 2017
The challenges posed to the UAE economy as a result of the collapse in oil prices in 2014 continues to play out and has had a direct impact on the ability of the country's economy to sustain the pre-oil price crash levels of job creation, both in the private and public sectors.
The UAE Property Report 2017 looks at the impact on each of the Emirates. Highlights from the report include:
- Diminished requirements from the oil and gas sector
- Downward pressure on rents in the city's office market due to faltering demand
- Residential rental market becoming more affordable putting a pressure on the luxury end of the market
- Economic diversification has made the oil price collapse less relevant for the emirate
- Greater stability in residential sales supported by the Government's infrastructure programme ahead of Expo 2020 is expected
- Increased employment opportunities set to support growth in both residential and commercial markets
- Curbed demand for residential rental property following weakness in rate of job creation
- Affordability of new gated communities fuelling growth in villa rental values
- Office market remains subdued but limited supply of new developments keeping rents stable
The UAE Property Report 2017 is now available to download.