Asteco: UAE real estate gold rush over
The real estate gold rush in the UAE is probably over and prices are set to go down this year as new properties flood the market, the country's largest property services firm Asteco said.
The correction will be largely confined to up-market residential properties as demand for commercial real estate and cheaper apartments grows strongly thanks to an economic boom and a burgeoning immigrant labour force.
- Capital Gains In Real Estate Rush
- Villa sales prices up 23% - apartment sales prices up 14% in 2012, says latest Asteco report on Dubai real estate
- A new 'gold rush'?: construction projects in the UAE to hit $315 billion In 2014
- Global Investment House – Kuwait – UAE Real Estate Sector- For the past five years, the GCC region has enjoyed an unprecedented property boom.