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UAE property prices seen flat in 2010 -JLL
Dubai flat prices to slump 20 pct in 18 mths
Abu Dhabi property shows slight upturn in Q4
DUBAI - UBS expects property prices in Abu Dhabi to continue sliding till 2012, as financing for mortgages and small and medium enterprises remains challenging and project delays are likely.
The brokerage said it expects prices in Dubai and Abu Dhabi to decline another 30 percent.
Housing supply growth was poised to outstrip demand growth, UBS said in a note to clients.
According to Investment Boutique LLC, residential demand would likely grow 6.7 percent during 2009-2012, while supply was expected to rise 17 percent during the same period, UBS added.
The hospitality sector expects to see supply of hotel rooms rise from about 4,000 currently to 20,000 by 2012, despite softer business traveller and leisure markets.
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