The good, the bad and the ugly of UAE real estate in 2012, reports Bayut.com

While 2012 was the year of chaos for the Middle East region at large but for the Dubai real estate sector, this year will always be remembered as the year of recovery. The spike in prices, which was previously limited to a select few high-end developments, has begun to surface in some other communities as well.

For Abu Dhabi however, 2012 further deepened the divide between prices and rents of high and low end property units. The striking contrast between the performances of the two states has led many people to believe that 2012 told a tale of the two very different cities.

During 2012, properties in Dubai overshadowed the performance of those in Abu Dhabi. The stats of Bayut.com reveal that Dubai properties for sale claimed the major share of the total search volume on Bayut.com. In January 2012, where Dubai properties attracted 76.28% of the total number of buyers on Bayut.com, Abu Dhabi properties managed to grab hold of a mere 12%.

2012 was overall not so bad a year for Abu Dhabi real estate sector as properties for rent in several of its communities gave Dubai rental properties a tough competition in terms of commanding the attention of visitors at Bayut.com. Of all people looking for rental properties in the UAE in January 2012, 36.46% were interested in Abu Dhabi properties whereas 62.48% were keener to live in Dubai.

via The good, the bad and the ugly of UAE real estate in 2012, reports Bayut.com | Bayut | AMEinfo.com.

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