Overall market sentiment to improve – says JLL
In its 2018 Year in Review report, JLL notes that the UAE market performance will heavily depend on the impact of investments and regulations.
Last year, the UAE government had announced a number of relaxed regulatory controls to further drive economic diversification and stimulate weakened market demand.
The introduction of a new 10-year residency visa and a 5-year retiree visa were launched to encourage investment and retain human capital in the emirates, in turn reversing the current downturn in market conditions, stated the JLL report.
“Overall market sentiment should improve in the long run as the new visa regulations and economic stimuli will provide a boost to the UAE’s real estate market,” said Craig Plumb, the head of research at JLL Mena.