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US President Biden made the announcement at the United Nations General Assembly in New York, and called on other countries to follow suit
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Residences also Levelling Off
ABU DHABI - Rents in Dubai for apartments and villas had also seen a levelling off with average annual growth rates of four and eight per cent respectively in 2008.
Rental rates for studios, one, two and three-bedroom apartments in
Tighter lending is forcing developers to offer more flexible and end-user friendly financing schemes in an attempt to entice buyers and retain existing investors – bringing about the shift from a seller’s market to a buyer’s market.
In addition, limited transactional activity in Dubai over the last two months and a decline in off-plan project sales have also contributed to what will be a certain shift from a speculator-driven property sector to an end-users market. “This shift could potentially lead to improved project planning which in turn will limit construction delays and assure timely delivery of quality developments,” Chambers added.
Rental rates in
The residential market saw a limited supply of new apartments, which was absorbed by high demand. One-bedroom apartments continue to be in high demand due to the high rental rates of two and three bedroom apartment. If rents stabilise, demand for two and three bedroom apartments is expected to pick up again.
The report expects apartment prices to move up selectively on premium projects and construction milestones will drive the prices.
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