UAE realty market shows major shifts in 1st half of 2012

For Dubai real estate sector, Q1 2012 report shows favourable results on Bayut search trends as it depicted continuous improvement. On the other hand, oversupply continues to affect Abu Dhabi’s realty market as Q1 2012 stats show a steep drop in its rents and property prices. In retrospect, this has continuously been reflected in Search Trends as Abu Dhabi showed a decline in its popularity index (PI) on Bayut.

Several other credible sources (like Knight Frank and Jones Lang LaSalle) have also observed and reported the same phenomenon for both Abu Dhabi and Dubai.

Abu Dhabi real estate sector slowed down during the first four months of 2012. Abu Dhabi property registered 26 points in Jan, where 33,465 unique buyers searched for its properties. In April, the numbers dropped to 28,561. For Dubai real estate sector however, it was a much better time as it showed a spike with 158,469 unique buyers looking it up during the same month. The figures were even more impressive for Dubai in March when it registered its best performance as 159,816 prospective unique buyers searched for Dubai properties on Bayut. These observations are based on the findings of 690,850 unique buyers interested in properties in Dubai & Abu Dhabi on Bayut during the first four months of 2012.

via UAE realty market shows major shifts in 1st half of 2012, Bayut Reports | Bayut |