Just over one-third of residential renters and owners in the UAE believe that real estate prices will remain the same or go up in the next 6 months, according to a Q1 sentiment survey from Peninsula Real Estate.

The statistics from the suvey – conducted in cooperation with CBRE, Cityscape, Eltizam and Berkshire Hathaway Home Services – show that 28 percent of respondents believe the market will fall by between 5 and 10 percent over the coming six months, while another 28 percent believe the market will remain stable. Only 6 percent of respondents expect the market to rise.

In comparison, 48 percent of respondents in Saudi Arabia believe that prices will remain stagnant or go up in the next half of the year, as well as 58 percent in Bahrain and 91 percent in Egypt.

According to the report, Q1 2020 sentiment shows an improvement over the last 6 months, with 35 percent of respondents believing that prices had fallen by at least 10 percent in the past 6 to 12 months.

Only 18 percent believe the same will be true in the coming six months.

Additionally, the survey found that the vast majority of renters in the region believe that the rent that they pay is fair or good value, including 74 percent in the UAE, 62 percent in Saudi Arabia, 92 percent in Bahrain and 93 percent in Egypt.

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