Analysts
cited the imbalance of supply and demand coupled with the current global
uncertainties as the biggest challenges to the UAE’s property market in the
year ahead.
“The
base of growth is very weak to entice a strong recovery and the European
sovereign debt crisis, should a member nation defaults, will worsen the global
economy. Regionally, any unrest will have a severe impact of the real estate
market,” said one analyst.
Analysts
also identified the lack of investor confidence in the market and poor
regulatory clarity as factors that could hold back recovery.
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