UAE and Gulf property markets will take up to two years to recover, says Cityscape organiser survey
Nearly 75% of industry professionals believe one or two years will elapse
Dubai: No many are talking about V-shapes on how long it will take for demand recovery to happen in the region’s property markets. The majority opinion – at 74 per cent - is veering towards one or two years, but there are still a few thinking it could be in the next six to 12 months.
This is based on a survey by Informa Markets, organiser of Cityscape’s Real Estate Summit. Residential and healthcare related assets should stage the “fastest” recovery rates, while demand will continue for specialised commercial real estate such as warehousing, data centres and manufacturing plants.
The survey was undertaken from among more than 500 professionals from developers, architects, designers, REITs, private and institutional investors, brokers, government staff, consultants and market analysts, covered a range of sector-critical topics important in commercial, industrial, retail, hospitality and residential real estate.