After three years of booming regional real estate market, several markets appear to have entered over valued levels, an article by Henry T. Azzam has said.
Real estate prices in the main cities of the region have more than doubled during this period, he wrote in Arab News. Healthy economic growth, increasing government spending for infrastructural projects, evolving legislation on real estate ownership that allows foreigners to buy properties, renewed confidence in the region’s economic prosperity, high level of population growth and urbanization, low interest rate structure and surging liquidity inflows seeking investment opportunities in the region have all contributed to the boom in the region’s real estate markets, the article read.
