Activity up in Middle Eastern property markets

16/06/2011 - Dubai Property News posted by Bob Bruskill
Activity up in Middle Eastern property markets

Middle Eastern property markets enjoyed a 15 per cent increase in investment activity in the first quarter of 2011, new figures have revealed.Cushman & Wakefield's latest EMEA Property Investment Report noted that prime rents across all sectors in the UAE are now stabilising following a period of decline.The firm explains that the increase in activity is, in part, a result of growing confidence in the region and the market's maturity."Prime yields in the UAE are beginning to stabilise, reflecting investors' long term confidence in the country and its leading regional position in terms of transparency, availability of quality assets and the advanced logistics and infrastructure network," said Cushman & Wakefield.It added that occupational rental markets in free zones and prime office locations have also shown signs of stabilisation while freezone licensing enquiries have increased significantly during the first half of 2011.Meanwhile, research recently published by ECA International has claimed that Dubai and Abu Dhabi are becoming more affordable places to live.