{"id":21106,"date":"2016-07-27T20:08:49","date_gmt":"2016-07-27T13:08:49","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=21106"},"modified":"2016-07-27T18:29:57","modified_gmt":"2016-07-27T11:29:57","slug":"uaes-property-loans-improving-despite-price-slide-imf-says","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uaes-property-loans-improving-despite-price-slide-imf-says\/","title":{"rendered":"UAE's property loans improving despite price slide, IMF says"},"content":{"rendered":"


\nThe quality of real estate loans in the UAE has continued to improve despite sliding home prices, the IMF said, in a sign that the UAE is coping better with a real estate downturn than it did in the previous slump seven years ago.Dubai’s average residential real estate price plunged 11 per cent in 2015 and in neighbouring Abu Dhabi prices sank 0.8 per cent, the IMF said after annual consultations with the UAE government.But non-performing loans in the construction and real estate development industries shrank to 7.5 per cent of the total at the end of March this year from 12.3 per cent in 2013, the IMF said.The quality of loans to households – a measure of financial strain among home buyers – has also been improving, with the ratio of non-performing loans dropping to 4.9 per cent from 10 per cent over the same period.As a result, falling property prices “do not appear to pose sys\u00adtemic risks for the financial sector”, the IMF concluded.That is a change from the last slump, when the bursting of a speculative bubble in real estate prices strained the balance sheets of banks across the UAE and brought Dubai’s government close to defaulting on its debt.This time, steps taken in 2014, such as tighter self-regulation in the property industry, rises in real estate transaction fees imposed by the government and mortgage loan caps introduced by the central bank, have limited speculation and the amount of bad loans, the IMF said.The strength of the banking system appears to be helping the UAE ride out a region-wide economic slowdown caused by low oil prices. The IMF has pre\u00addicted that Abu Dhabi’s GDP growth will fall from 4.4 per cent this year but remain solid at 1.7 per cent.In Dubai, where the economy does not rely directly on oil and state-linked firms are vigorously pushing tourism and real estate projects, the IMF actually expects growth to accelerate marginally, to 3.7 per cent from 3.6 per cent.The consultant firm JLL said Dubai’s residential property market was continuing to drop, with apartment prices falling 5 per cent from a year earlier in the second quarter of this year and villa prices sliding 6 per cent. Overall, the market has fallen about 15 per cent from its peak in the middle of 2014, JLL estimated.”Providing there are no major external shocks over the rest of the year, we expect the Dubai residential market to recover in early 2017,” JLL said, although it added that uncertainty caused by Britain’s decision to leave the European Union might delay the recovery.business@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…UAE’s property loans improving despite price slide, IMF says<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The quality of real estate loans in the UAE has continued to improve despite sliding...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-21106","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5uq","jetpack-related-posts":[{"id":8134,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kanoo-chairman-sees-opportunities-as-expo-2020-infrastructure-projects-start\/","url_meta":{"origin":21106,"position":0},"title":"Kanoo chairman sees opportunities as Expo 2020 infrastructure projects start","date":"March 16, 2016","format":false,"excerpt":"\r \r The Kanoo Group expects the start of infrastructure projects for the Expo 2020 to present business opportunities for the Abu Dhabi-based diverse business conglomerate amid the economic slowdown. The Expo 2020 Dubai is expected to attract 25 million visitors, about 70 per cent of them from overseas. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":162662,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/imf-lifts-uae-growth-outlook-to-4-8-for-2025\/","url_meta":{"origin":21106,"position":1},"title":"IMF lifts UAE growth outlook to 4.8% for 2025","date":"October 15, 2025","format":false,"excerpt":"\r The IMF has raised its UAE growth forecast to 4.8% for 2025, projecting steady expansion through 2026 as region\u2019s economies gain momentum The post IMF lifts UAE growth outlook to 4.8% for 2025 appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More.\r\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/10\/IMF-UAE-GDP-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":166906,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uae-tops-gulf-economic-growth-rankings-for-2025-says-imf\/","url_meta":{"origin":21106,"position":2},"title":"UAE tops Gulf economic growth rankings for 2025, says IMF","date":"December 9, 2025","format":false,"excerpt":"\r Strong expansion in Abu Dhabi and rising investment in technology and AI drive the UAE\u2019s regional lead, according to a senior IMF official The post UAE tops Gulf economic growth rankings for 2025, says IMF appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/12\/abu-dhabi-skyline-1-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":995,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-to-expect-from-the-abu-dhabi-property-market-in-2016\/","url_meta":{"origin":21106,"position":3},"title":"What to expect from the Abu Dhabi property market in 2016","date":"January 8, 2016","format":false,"excerpt":"\r \r The Abu Dhabi real estate sector was something of Dr Jekyll and Mr Hyde last year. Sales prices have been flat since the last quarter of 2014, but leasing failed to read the script and was up by as much as 7 per cent in some areas last\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":163063,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/imf-forecasts-6-growth-for-abu-dhabi-and-3-4-for-dubai-in-2025-as-uae-economy-leads-gcc\/","url_meta":{"origin":21106,"position":4},"title":"IMF forecasts 6% growth for Abu Dhabi and 3.4% for Dubai in 2025 as UAE economy leads GCC","date":"October 21, 2025","format":false,"excerpt":"\r The post IMF forecasts 6% growth for Abu Dhabi and 3.4% for Dubai in 2025 as UAE economy leads GCC appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More.\r \r Source : arabianbusiness.com\r Read more...IMF forecasts 6% growth for Abu Dhabi and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/10\/IMF-UAE-GDP-1000x667-2.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":25225,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rak-master-developer-al-marjan-expects-prices-to-rise\/","url_meta":{"origin":21106,"position":5},"title":"RAK master developer Al Marjan expects prices to rise","date":"September 7, 2016","format":false,"excerpt":"\r The Ras Al Khaimah master developer Al Marjan Island expects plot prices to appreciate because of a shortage of waterfront plots. The artificial islands cluster, which now houses three hotels - Rixos Bab Al Bahr, Double Tree by Hilton and Marjan Island Resort and Spa - with about 1,500\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/21106"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=21106"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/21106\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=21106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=21106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=21106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}