Real Estate

Sharjah’s real estate sector is a buyer’s and renter’s market at the moment, with prices falling since the beginning of the year and more residents reporting satisfaction with the affordability of housing. Increased residential and office space competition from neighbouring emirates, however, means that maintaining occupancy rates will be a challenge, at least in the near term.

Like many of its neighbours in the Gulf, Qatar has seen the negative effects of the international economic downturn begin to fade over the past year. In the coming decade the local real estate market is expected to benefit from massive government infrastructure spending, a steadily expanding population and preparations for the 2022 World Cup.

Dubai’s property market is validating the adage that the three most important factors in real estate are location, location, location. While much of the market is expected to post modest gains this year before rebounding more strongly in 2012, residential and commercial properties close to the emirate’s growing metro network are increasing in popularity and value at a healthier pace.

With a new mortgage law in the works and government plans to spend nearly $70bn on low-income housing, Saudi Arabia’s real estate market appears on track for a period of expansion.

With fresh incentives attracting multinationals to locate in Bangkok, the capital is getting ready to adopt the next generation of building standards. Smart money these days is on environmentally conscious “green building” that combines cost-efficiency, social responsibility and productivity gains.

With residential sales well up so far this year, Jordan’s real estate sector looks to be rebounding from the downturn it experienced during the global economic crisis. Questions remain, however, as to whether the surge can be maintained for the rest of 2011 in the face of rising interest rates and a possible end to state-backed incentives.