{"id":2498,"date":"2016-01-25T01:03:04","date_gmt":"2016-01-24T18:03:04","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=2498"},"modified":"2016-01-24T22:12:40","modified_gmt":"2016-01-24T15:12:40","slug":"dubai-property-sector-to-benefit-from-increased-budget-spending","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-property-sector-to-benefit-from-increased-budget-spending\/","title":{"rendered":"Dubai property sector to benefit from increased budget spending"},"content":{"rendered":"


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\nDubai\u2019s property markets are likely to move back into growth by the end of the year, underpinned by its expansionary budget, according to a new study.A report from ReidIn\/Global Capital Partners said that Dubai\u2019s 12 per cent budget increase will serve as a fiscal stimulus.That contrasts with its response in 2008, when spending cuts imposed as a result of the global financial crisis \u201camplified the contractionary impact on the economy\u201d.
\nIt said that there was \u201can intertwined relationship\u201d between budget spending and property prices, with an increase in the former having a positive impact on the latter. Global Capital Partners\u2019 managing director, Sameer Lakhani, predicted a recovery in property prices later this year. \u201cThere\u2019s a whole bunch of reasons why we see this,\u201d he said Affordable homes in areas such as Discovery Gardens and International City have declined by only half of the rates experienced in more expensive communities.
\nHe expected that with continued population growth of between 5 and 7 per cent, fuelled by the arrival of more middle-income families, and with transaction levels already showing an increase within certain communities, an \u201cinflection point\u201d would be reached by the end of the year as the market moves back into growth.Other analysts are not so optimistic. Phidar Advisory suggested that prices could drop by a further 20 per cent through this year and the next as rents soften. Deloitte has also predicted sales price and rental declines for 2016.
\nNicholas Maclean, the managing director for CBRE Middle East, said that he felt that \u201cthere is still some room to go in terms of price reductions\u201d, and that he expected further falls at the lower end of the market identified by Mr Lakhani.\u201cThe reductions in value have come at the middle and the upper parts of the marketplace. That means that mid-sized housing, compared with more economical housing, is probably now out of kilter. So there is room for lower cost housing to decline over the course of the year.\u201d Once that happens, he said the market would plateau at the end of this year.
\nmfahy@thenational.aeFollow The National\u2019s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Dubai property sector to benefit from increased budget spending<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai\u2019s property markets are likely to move back into growth by the end of...<\/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-2498","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-Ei","jetpack-related-posts":[{"id":14780,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-dubai-property-price-crash-in-sight-says-consultancy\/","url_meta":{"origin":2498,"position":0},"title":"No Dubai property price crash in sight, says consultancy","date":"May 29, 2016","format":false,"excerpt":"\r Fears about another potential collapse in Dubai property prices to rival the fallout from the 2008 financial crisis are unfounded, according to a new report.The Reidin\/Global Capital Partners report, Dubai: This Time it's Different, says the fundamentals of the Dubai economy are much stronger than after the global financial\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42659,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-property-headed-for-an-upturn-forecasts-knight-frank\/","url_meta":{"origin":2498,"position":1},"title":"Dubai property headed for an upturn, forecasts Knight Frank","date":"February 3, 2017","format":false,"excerpt":"\r Knight Frank has become the latest broker to call the bottom of the Dubai market, saying that it expects house prices and rents in the city to start to increase from mid-2017 onwards.In its 2016 Year End Review, Knight Frank said that government commitments to spending on infrastructure and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":165595,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/department-of-finance-officials-hail-dubais-people-centric-budget\/","url_meta":{"origin":2498,"position":2},"title":"Department of Finance officials hail Dubai\u2019s people-centric budget","date":"November 24, 2025","format":false,"excerpt":"\r Officials also praise disciplined fiscal policies, government spending efficiency, innovation in revenue collection systems and enhanced service quality The post Department of Finance officials hail Dubai\u2019s people-centric budget appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More.\r \r Source : arabianbusiness.com\r Read\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/11\/Ministry-of-Finance-UAE-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":23523,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/imminent-rise-in-dubai-house-prices-as-conditions-improve-new-report-says\/","url_meta":{"origin":2498,"position":3},"title":"'Imminent' rise in Dubai house prices as conditions improve, new report says","date":"August 21, 2016","format":false,"excerpt":"\r Dubai's residential market is on the verge of an \"imminent\" increase in prices as a result of improving economic conditions and a relatively stable supply, according to a new Reidin\/Global Capital Partners report. 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