UAE property prices climb

Sale prices of real estate in parts of Dubai and Abu Dhabi are registering big increases as buyers regain their confidence, The National has reported. In Dubai, prices of homes in The Springs have risen up to 12% since May, while The Meadows and The Greens have seen price rises of 7% and 5% respectively. In Abu Dhabi, properties on Al Reem Island were seeing increases of about 30% in the past couple of months. While brokers say this is the third consecutive month of price rises, many bankers and analysts are still cautious about saying the market has levelled out, with some predicting further declines, the daily reported.