Real Estate

Real estate in Ras Al Khaimah appears set to rebound from the regional downturn in the property market, with experts predicting an increase in sales and building activity, but prices seem unlikely to reach pre-economic crisis levels.

Economic expansion and upcoming real estate regulations look set to help Abu Dhabi’s property market, where lower investor demand and an increase in residential and office supply have combined to encourage a drop in rental rates.

Investment in a range of property, from low-cost housing to top-end resorts, is driving Sabah’s construction and real estate sector, while labour reforms may be set to keep costs for contractors down. Some 20,000 affordable housing units will be built in Sabah over the next five years under a new partnership formed between the Sabah Housing and Town Development Authority (SHTDA) and Malaysia’s Probil Sonati Development, local press reported on February 8.

With the economy likely to post another year of strong growth in 2011, and a positive and stable outlook beyond, the Indonesian property sector, according to analysts, looks set to continue its steady advance.

On the back of sound macroeconomic indicators – such as increasing purchasing power, stabilising inflation and projected near double-digit GDP growth – Ghana’s emerging middle class is looking to buy property, giving the country’s real estate sector a welcome fillip. Although the entire real estate market is growing, demand is greatest for residential property. According to estimates from the Ghana Investment Promotion Centre, the segment has been registering transactions worth around $1.7bn per year over the past decade.

Oman’s real estate sector is slowly regaining momentum after more than a year of reduced activity. The increase in demand is being seen in a number of sectors whilst oversupply in others has resulted in weaker take-up, although this could soon be overcome as the impact of a massive government investment programme starts to be felt more acutely.