Completed freehold units 'approaching the market'
07/09/09 19:32
Expatriates may well witness a change in the property market in Abu Dhabi over the course of the next year as completed freehold units become available.
Jesse Downs, director of research and advisory services at Landmark Advisory, said that the handover of the first freehold units in Abu Dhabi will "effectively mark the first time expatriates can purchase completed residential units in the capital".
Her comments followed the latest report from Landmark Advisory, which suggested that declines in house prices in the capital of the UAE are now easing.
Sales volumes may also improve over the course of the coming year, she suggested, noting that prices may stabilise once delivery of new properties takes place.
Activity within the markets in both Abu Dhabi and Dubai during June and July was at its most active since the final two quarters of last year, the latest Landmark Advisory report indicated.
Last month, Emirates Business 24/7 reported that housing rents in Abu Dhabi have now reached a period of stability.
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