Middle East and Africa ResearchAll the latest property research from the Middle East and Africa
16 consecutive months of property price increase
Global investment rose 14% in 2011 to US$727bn (US$808bn including multifamily) and volumes are now 83% up on their 2009 lows.
European commercial property investment activity hit €28.4bn in the first quarter of 2011, 25% up on the opening quarter of 2010.
The Abu Dhabi of today is built upon the vast oil reserves which the Emirate enjoys. It has however long been recognised that it is unwisefor an economy to be largely reliant on one industry and consequently there is an active drive for diversification.
“This report is designed to provide our clients with an immediate view on prime rents markets and sectors in the region as at the end of the quarter.
World economic growth has continued to undergo stifled movements, hampered by challenges faced by the Eurozone economies and the consequential slowdown in emerging markets.
The Emirate is experiencing increasing downward pressure on rental values as areas of Dubai are now competing with almost parity for budget accommodation like studios and one bedroom apartments.
Residential sale transactions, as expected for this time of year, saw a natural increase in January and February. However, we envisage thatactivity in the market will tail off as we move closer to the summer months.
“On average, global occupancy costs per workstation showed no change in 2010. But, this masks significant regional differences, driven by the two-speed economic recovery. Whilst costs rebounded by 10-15% in Central and South America and Asia Pacific, occupiers in the vast majority of EMEA and North American markets realised savings of 5% during 2010.
The second quarter was marked by dynamic changes throughout the property markets. Transaction activity slowed in Asia Pacific and not entirely due to governmental curbs instituted by China.