I loved living in Dubai but now I m sold on Abu Dhabi thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.
Abu Dhabi residential market shows resilience in a challenging year
ABU DHABI, February 5, 2021 Property markets across the globe have felt the impact of the uniquely challenging year that was 2020. While Abu Dhabi has not been an exception, the UAE capital’s property sector has revealed its strength and stability, displaying promising signs of recovery in the latter half of the year once widespread restrictions relaxed across the country, said a report by UAE portals Bayut & dubizzle. The government’s economic stimulus packages and prompt measures to prevent oversupply in the market have played an integral role in enhancing the competitiveness of Abu Dhabi’s real estate sector, it stated.
SHARE
Property prices in the UAE are expected to stabilise in 2021 as the economy recovers from the coronavirus pandemic-induced slowdown and government initiatives spur growth, according to analysts.
“Once Covid 19 is resolved, things will be better economy wise and, of course, Dubai Expo is coming next year and there is the 50-year anniversary of the UAE,” Haider Tuaima, head of real estate research at ValuStrat consultancy tells
The National. “There are a lot of positive things going forward. The market could be heading towards bottoming out next year.”
We expect more investments to happen next year, especially from China that will help the market