A recent market report was released providing specific insights into the Middle East's real estate market. In a report from PRnewswire, the said report was entitled "Middle East Real Estate Market Outlook to 2019 - Demand in Destination Retail and Affordable Housing to Shape Future."
With the real estate sector in the region seen as one of the fastest growing industries, many real estate developers have invested billions into countries such as Dubai, Qatar, Oman, Saudi Arabia and other nations in the region.
For 2014 alone, one of the biggest developing countries is the United Arab Emirates. The country has experienced a surge in both local and foreign investments in real estate, as much a four times the previous investments. Taking the lion's share is Dubai, followed by the Northern Emirates with the second largest segment.
Another country with a large housing sector investment is Saudi Arabia. The largest share of the development was in the residential sector. There was also a reported 15,000 real estate offices in the country, both license and unlicensed. This is a factor that would gear up the growth of the sector.
Alongside the report is the market rentals report in Dubai. According to a recent news release from TradeArabia, the rental prices in the city have remained stable in the third quarter of 2015. Despite the highly fragmented market, with some areas experiencing above average growth while some others have declining performance.
The rental review was conducted by global real estate adviser CBRE. According to CBRE Middle East Head of Research and Consultancy Mat Green, "While global economics have reduced investor sentiment and partially impacted Dubai's residential sales, the slowdown is largely attributed to a price correction resulting from market stabilization."
He added, "In light of lower activity, developers are incentivizing sales by offering more flexible payment plans, some which are back-loaded and provide post-handover payment options. The residential sector is likely to stabilize in the coming months. Nearly 20,000 new units could enter the market during the course of the year, much of which will be located in the secondary submarkets of Dubailand."
