Abu Dhabi’s real estate sector, appears to be showing a promising future as strong demand is expected to outstrip supply over the coming years. Rental grow rates of up to 65% over the last 12 months have resulted in a very low vacancy rates of 1% which is excellent.
One downturn of Abu Dhabi’s growth is the property price hikes home owners experienced in 2008. Prices overall have increased by 89% which has consequently resulted in reduced rental yields. Abu Dhabi is at the top of the regional chart when it comes to real estate, making it the most expensive city for rental and purchase in the UAE.
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Monday, June 30th, 2008
Posted by Overseas Property Mall in
Press ReleasesInvestors in overseas property are taking advantage of the short-term dip in the value of the US Dollar by focusing their attention on properties in countries whose currencies are pegged to the dollar and taking out forward contracts as the UK housing market stalls.
This week a mixture of falling house prices and rising mortgage costs has meant record falls in the number of people applying for new mortgages. Alongside fears that the stock market will fall even further before it gets better the only option left for many is to invest their money in overseas property.
Nick Fullerton, MD of FC Exchange, said: “These people have been watching the markets closely for months and are choosing their time carefully to buy forward contracts which allow them to freeze exchange rates at this level for up to two years. Experts don’t expect these favourable rates for UK investors to last for long and our customers are acting quickly to secure rates they are happy with.
“Those investing in UK stocks and shares and the housing market are looking to the long term at the moment but there are short-term opportunities to make a profit. There are 21 currencies pegged to the dollar and many are becoming increasingly popular as potential investors in overseas properties see the dollar hit a low,” he added.
Locations like the Bahamas, Jamaica, the United Arab Emirates as well as the US itself are being seen by our customers as opportunities to own a property in paradise as well as an investment. Even the locations that unofficially use the dollar – Panama or the British Virgin Islands for example – are becoming increasingly popular.
If you would like to speak to an expert currency broker from FC Exchange (www.fcexchange.co.uk) about Forward Contracts or any currency issues, please contact Lucy Willatt at Hudson Sandler on 020 7710 8912 or lwillatt@hudsonsandler.com or Nathan Field on 020 7710 8937 or nfield@hudsonsandler.com.
Ajman is one of the seven emirates that make up the UAE (United Arab Emirates). It’s total area only comprises of 260 square kilometres but the ruler of the emirate, Sheikh Humaid bin Rashid Al Nuaimi has big plans for this small emirate.
Sheikh Ammar who is the crown prince of Ajman and the son of the ruler said in an interview with The National
“We want Ajman to become the getaway from the hectic working cities of Abu Dhabi and Dubai where someone would spend three days working – and three days relaxing in Ajman”.
The Al Zorah Project
Earlier this month the emirate announced plans to build a brand new city along it’s coast by the name of Al Zorah to a total estimated cost of Dh220 billion (US$59.9 bn) investment
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British Architect, Lord Norman Foster, along with Masdar, a UAE energy initiative, unveiled plans for a carbon-neutral city in the desert of Abu Dhabi last week. Foster & Partners architects will design the car-free city which will eventually house 50,000 people.
Masdar’s research institute, which was founded in partnership with the Massachusetts Institute of Technology, will be located in the 6.5 sq km development and aims to turn the city into an alternative energy cluster for 1,500 businesses.
Sultan al-Jaber, Masdar’s chief executive, said “Masdar City will become the world’s hub for future energy - By taking sustainable development and living to a new level, it will lead the world in understanding how all future cities should be built.”
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Abu Dhabi’s real estate sector, appears to be showing a promising future as strong demand is expected to outstrip supply over the coming years. Rental grow rates of up to 65% over the last 12 months have resulted in a very low vacancy rates of 1% which is excellent.
