Middle East Real Estate Markets to Outperform All
Jones Lang LaSalle, the world’s leading real estate advisory firm, surveyed 350 developers, wealth funds and high net worth investors around the globe to determine what the current trends of the real estate market are for 2009.
What they found out was that Middle East markets – especially real estate – should significantly grow more rapidly as opposed to other regions of the world. The region seems to be less impacted by the global recession and an inverse relationship is taking place between the strongest performing real estate markets and economies that are most impacted by the current recession. Over 50% of the respondents to the research think the Middle East will have the strongest performance over the next 2 years.
Here are a couple of articles that further reinforce these statements:
This Dubai property investment article, for one, is in such a boom that Dubai’s territory is already expanding to include adjacent smaller regions. The growth of Ras Al Khaimah alone is predicted at 10% for 2009, while no optimistic news is reported in US and UK newspapers.
This other article, on Dubai’s property development situation, is evidence of how the market in the United Arab Emirates is doing well, with enormous sales of real estate going on while the West suffers through the crisis. Are we to blame for the state of the market?
While Western European & US real estate markets predictions are not very optimistic for the respondents, investors suggest that emergent markets in MENA, Asia-Pacific and Eastern Europe will be the least affected by the economic crisis.
Are we witnessing a shift in economic statuses quo of the world?
Rafael Ribeiro
www.thefirstgroup.com
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Great post
Yes I agree the middle east real estate marketer are very strong in their business , dubai country real estate marketer have great future business.
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I am sure middle east countries especially Dubai is prospering and is hardly affected by world recession. Must say that your post is too good.
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“What they found out was that Middle East markets – especially real estate – should significantly grow more rapidly as opposed to other regions of the world.” Yes this is because they have lot of big investors, who will boost up this middle east real estate market.
Unfortunately it seems many great real estate projects are postponed or canceled because of the world recession.
The real estate market in UAE has obviously been highly affected by the recession – some say it's the worst hit real estate market in the world. There are mixed reports with some claiming prices will fall up to 70%. But generally, the feeling is the market is bottoming-out and we can look forward to business as usual soon