Gulf region is still popular among real estate investors, study shows
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The Gulf region offers good value for money for real estate investors at present with two thirds of would be property buyers intending to purchase in the region in the future despite being more aware of the risks involved, according to a new report.
Some 63% said they were likely to invest, 15% said they were unlikely to do so and 16% said they do not think the region offers good value property at present, the FutureBrand Gulf Real Estate Study shows.
The confidence shown in the region’s real estate market exists despite the research showing that the principal impact of the global economic downturn was a lack of trust in developers.
‘Heightened awareness of risk, the potential for monetary loss, loopholes and corruption all should point to a weakening of homebuyer confidence. But this new wariness does not seem to affect buyer attitudes,’ the report says.
Nearly 57% of respondents said they were more aware of risk now, following the real estate downturn in 2009, almost 50% said they were now more aware of loopholes and corruption while about 53% said they believed property prices would decline further. A further 38.6 % said they had less trust in the developers to deliver what they promise.
The confidence shown in the region’s real estate market exists despite the research showing that the principal impact of the global economic downturn was a lack of trust in developers.
‘Heightened awareness of risk, the potential for monetary loss, loopholes and corruption all should point to a weakening of homebuyer confidence. But this new wariness does not seem to affect buyer attitudes,’ the report says.
Nearly 57% of respondents said they were more aware of risk now, following the real estate downturn in 2009, almost 50% said they were now more aware of loopholes and corruption while about 53% said they believed property prices would decline further. A further 38.6 % said they had less trust in the developers to deliver what they promise.
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