Emirates NBD tips UAE property market for investment

Emirates NBD tips UAE property market for investment
News from The National:

Emirates NBD has tipped the UAE property market as a good investment opportunity, amid wider hopes of a revival of fortunes in the once-troubled sector.

Property represents a promising choice as an alternative asset-class investment, said Mark McFarland, the chief investment strategist at Emirates NBD Wealth Management.

“Real estate in the UAE continues to offer good affordability while demand is seen rising, particularly in apartment and commercial sectors,” he said.

“We see an 8 per cent yield on local property and are generally optimistic about the market here over the next 12 months.”

Hopes about a revival in the emirate’s property market rose in the past six months as rents and purchase prices climbed in response to demand in popular areas such as The Palm Jumeirah, Downtown Dubai and Dubai Marina.

Values had slumped more than 50 per cent in some areas between 2008 and 2011, as a bubble inflated by cheap credit and market speculators burst.

The market continues to fa…………… continues on The National

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