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Discuss this articleReal Estate Special Report - Have Your Say
by This email address is being protected from spam bots, you need Javascript enabled to view it on Wednesday, 15 April 2009
"When do you think the real estate sector will recover in the Middle East, and what will be the most important catalyst?"
READERS' COMMENTS
Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.
Less of the knee jerk gimmicks - more consistency and long-term planning
Posted by Geeza, London on Sunday 3 May 2009 at 21:41 UAE time
Although property markets are showing signs of a decline in downturns I'd still wait till the end of the year before passing judgement. Having said that even when I know for sure that the bottom has been reached, I would not touch the Middle East market for the foreseeable future.
The ME market is way too immature, driven by speculators, government announcements and gimmicks purely with the intention of enticing investors back into the market. They might as well offer free cars and private jets with each property sold.
The impression I get is that locals in the UAE actually feel besieged by the expats. They seem to feel threatened by being a minority, yet want foreigners to help them keep the country vibrant and dynamic. As far as I can tell, the authorities will keep flip-flopping between being protectionist and being open.
I'd wait for at least 5 years of consistency in rules and regulations before even thinking of investing in the Middle East. There's plenty of money to be made elsewhere and there are plenty of places to live.
Posted by Geeza, London on Sunday 3 May 2009 at 21:41 UAE time
Although property markets are showing signs of a decline in downturns I'd still wait till the end of the year before passing judgement. Having said that even when I know for sure that the bottom has been reached, I would not touch the Middle East market for the foreseeable future.
The ME market is way too immature, driven by speculators, government announcements and gimmicks purely with the intention of enticing investors back into the market. They might as well offer free cars and private jets with each property sold.
The impression I get is that locals in the UAE actually feel besieged by the expats. They seem to feel threatened by being a minority, yet want foreigners to help them keep the country vibrant and dynamic. As far as I can tell, the authorities will keep flip-flopping between being protectionist and being open.
I'd wait for at least 5 years of consistency in rules and regulations before even thinking of investing in the Middle East. There's plenty of money to be made elsewhere and there are plenty of places to live.
Real Estate Sector Recovery
Posted by MK, Dubai, United Arab Emirates on Tuesday 21 April 2009 at 14:04 UAE time
Based on what news is coming upon various parts of the world, it looks like that the pace of deceleration of world eonomy has decreased considerably. The good is yet to come but there is a respite that the bad news has lessened to great extent.Market confidence has started building due to which there is slight growth in the stocks markets worldwide.Middle East Real estate may recover within next 6 - 10 months since there is money in the region. It is only the confidence which needs to build up amoungst investers that can drive up the real estate market. Countries like UAE are stuying to bring up laws for long term residence visas which is one of the great catalyst to boost confidence. Stabalization or Recovery of US economy can prove to be another indicator for Real estate recovery in middle east. Moreover, the middle eastern countries should consider how thay can shed protectionism and bring invester friendly and transparent real estate laws to recover the real estate market.
Posted by MK, Dubai, United Arab Emirates on Tuesday 21 April 2009 at 14:04 UAE time
Based on what news is coming upon various parts of the world, it looks like that the pace of deceleration of world eonomy has decreased considerably. The good is yet to come but there is a respite that the bad news has lessened to great extent.Market confidence has started building due to which there is slight growth in the stocks markets worldwide.Middle East Real estate may recover within next 6 - 10 months since there is money in the region. It is only the confidence which needs to build up amoungst investers that can drive up the real estate market. Countries like UAE are stuying to bring up laws for long term residence visas which is one of the great catalyst to boost confidence. Stabalization or Recovery of US economy can prove to be another indicator for Real estate recovery in middle east. Moreover, the middle eastern countries should consider how thay can shed protectionism and bring invester friendly and transparent real estate laws to recover the real estate market.
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