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FINANCIAL NEWS
UAE property market improved in Q2 on more funds: RICS
04 Aug 2012
(MENAFN) A recent study conducted by the Royal Institution of Chartered Surveyors (RICS) found that confidence in the UAE property investment market improved during the second quarter of 2012 on rising availability of cash, Arabian Business reported.
The Global Commercial Property Survey indicated a rise in purchaser enquiries for the second consecutive quarter, expecting transactions to further increase in the coming months.
16 percent of the respondents said that funds available for investment in real estate increased during the second quarter of the year, according to the survey.
The survey also found that occupier demand, led by an active retail sector, continued its rise, though at a slightly slower pace.
Despite the recovery in demand, upcoming new supply to the office market, meant oversupply continued to impact upon rental expectations, RICS said.
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