Stability returning to UAE property market

Property investors in the UAE will be bolstered by news that the region's property market is showing signs of stability.

According to a report by Jones Lang LaSalle, the level of residential real estate transactions rose by 50 per cent during the second quarter of 2010, in comparison to the first three months of the year.

Jones Lang LaSalle claims that so far this year 14,000 residential units have been completed.

"Unlike the office sector, no major delays or cancellations are foreseen in the residential market over the remainder of 2010," the report said.

"Finance is a key factor in market recovery. The residential market has shown signs of improved lending in 2010 as more banks are injecting liquidity into the mortgage market."

However, it is not all good news as the total number of transactions taking place in the market remains 35 per cent down on the same period of 2009.

Earlier this year, overseas property portal HomesGoFast.com recommended that investors look to buy almost-finished houses to minimise risk.

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