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Real estate yields in Dubai have compressed leading to the creation of a seller’s market, Jones Lang LaSalle said on Tuesday in a new report.
Its 2013 Middle East and North Africa (MENA) Real Estate Investor Sentiment Survey found that investors in Dubai’s property market are now open to acquiring assets at yields closer to emerging Europe and higher than established markets such as Moscow.
The survey indicated strong demand among regional investors for Dubai real estate, leading to the creation of a seller?s market, which is one of the reasons for the yield compression.
While some interest for land has returned in this year?s survey, most investors continue to prefer income producing assets to development, Jones Lang LaSalle said.