Investors in the Middle East believe that the real estate market is still approaching the bottom. According to the findings of the Colliers International 2010 Global Investor Sentiment Survey for the third quarter of the year, 38 percent of respondents expect to expand or maintain their current level of real estate holdings over the next 12 months.
"The results of this survey suggest the Middle East real estate market
has not moved at all over the last six months, but on the plus side, investors do believe the market is set to find its floor over the next year," said John Davis, director of Colliers International Global Investment Services.
However, the news does represent a huge reduction in expansion plans compared to the results of the survey six months ago which implies that investors have become more cautious.
In terms of future growth, respondents to the survey are divided with 50 per cent concerned that the region may be facing a double-dip recession as a result of high levels of property debt and over-supply.
- Tuesday 09 November 2010