After witnessing a marginal growth in 2014, the Saudi Arabia's real estate prices have fallen to new lows for the past eight consecutive quarters due to weakness in the residential sector, mainly plots and apartments, said a report.
The Saudi housing ministry has announced plans to launch a national e-network (Ejar or Rent) to regulate the real estate rental market, said a report.
The scheme, which is also aimed at supporting poor Saudi nationals who are unab
Average rents in the northern UAE emirate of Sharjah are still 38 per cent cheaper than in 2008, as additional supply keeps rates from increasing rapidly, according to a report from leading real estate consultancy Asteco.
Rental rates for both apartments and villas in Abu Dhabi have been directly impacted by the current macroeconomic challenges, witnessing declines of up to three per cent in Q3, said a report.
Continued cost cutting and downsizing
The key real estate markets of Dubai and Abu Dhabi in the UAE witnessed an overall downward movement of apartment rents in the third quarter making them more affordable for the renters and buyers, said a report.
During the third q
The apartment rental market in Dubai, UAE, saw values edge down further, whereas in neighbouring emirate Abu Dhabi the scenario was different - with the market witnessing a resurge with an upward movement, said a report.
The residential market in Bahrain remained stagnant for the second consecutive quarter in Q1 with the rental rates remaining equal to the levels achieved during the previous quarter, said a report.
During the first quarter, the re
The residential market in Riyadh and Jeddah softened over the first quarter with the sales and rental rates predominantly reporting marginal decreases both through quarter-on-quarter and year-on-year indicators across the villa and apartment seg
The residential sector in the Northern Emirates remained flat in the first quarter with a marginal decline in the rental rates being registered at Sharjah and Fujairah, said a report.
The residential sector in the Northern Emirate
The residential rental market continued to be under pressure during Q1 2016 as companies are trying to adjust to the market conditions and minimise expenses by reducing headcount and housing allowances, according to leading consultancy house PKF