Abu Dhabi Real Estate Market to Face Growth as Economy Stabilizes
The Abu Dhabi real estate is expected to experience growth because of the stabilizing economy and increasing consumer confidence in the market, as revealed by a new market research study.
According to a new YouGov survey, 58 percent of UAE consumers, including Abu Dhabi real estate consumers, choose finance payments and mortgages when choosing present and future property investment. The survey was granted ahead of the Cityscape Abu Dhabi 10th edition. The results reflect borrower confidence in the market with 42 percent of the respondents of the survey expect that the market will be stable and 40 percent have predicted growth in 12 months.
The findings insinuate that loosening restrictions in lending can be beneficial to lenders in a bid attracting potential investors. Both regional and international developers are preparing for Cityscape Abu Dhabi, the leading Abu Dhabi real estate event, happing from April 12 - 14 at the Abu Dhabi National Exhibition Centre.
"Our study indicates that consumers are confident in the future of the real estate market in Abu Dhabi, with most (82 percent) believing that real estate prices will stabilize or grow in the next 12 months," said. YouGov MENASA Managing Director Kailash Nagdev indicated in a report from Khaleej Times.
"It also shows, however, that consumers are being cautiously optimistic about their intention to invest so it will be important for the industry to provide wider access to market intelligence to re-enforce the investment opportunities that lie ahead."
Nagdev has also stated that as long as developers continue to draw in investments by offering deferred payment plans, consumers will remain to fund investments through mortgage or finance deals.
The Ventures ONSITE study conducted on March confirms the GCC property market is highly probable to stay resilient and to flourish by the end of 2016 onwards, despite the fluctuations in oil pricing recently, as reported on CPI Financial.
Upcoming projects in the Abu Dhabi Vision 2030, including the 1 billion USD Louvre Abu Dhabi, is expected to breathe new life to the Abu Dhabi real estate activities.