UAE prays for housing market recovery in 2011
This content is archived.
The UAE’s housing market is still taking a beating, over a year after the bubble burst. The residential property price index dropped 6% q-o-q to Q3 2010 from the previous quarter, and was down 6% on a year earlier, according to Colliers International Middle East.
Sentiment has been hit by soil erosion, caused by delayed construction at “The World” project. Without maintenance, the islands made up of reclaimed land are slowly being eaten by the sea.
The rest of this archived report is part of Full Access.
