The Burj Khalifa (R) is pictured next to the Dusit hotel and residences on Sheikh Zayed road in Dubai.
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Residential rental yields in Dubai and Abu Dhabi could indicate growing imbalances and overheating in the country's real estate sector, the United Arab Emirates' central bank said Sunday in the first official warning about soaring property prices.In contrast to the months preceding the UAE's 2008 property crisis, the current property market recovery was not marked by rapid credit growth, the central bank also said, adding that banks' exposure to the sector totaled 287 billion dirhams ($78.1 billion), or less than 23 percent of overall loans.Bank finance for the purchase of residential property increased 12 percent in 2013 or by 12.7 billion dirhams, the central bank said, adding that bank lending was not a significant driver of real estate prices.
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