Dubai property prices fall 20% in 18 months

Dubai’s rental prices are expected to continue to fall into 2018 as the emirates real estate sector appears to be bottoming out, according to Propertyfinder Group.

The real estate portal said that median Dubai property sales prices fell 20% in the 18 months from November 2015 to April 2017, while median rental prices dropped 21% over the same period.

With a further 28,000 new units in Dubai scheduled for release by year-end, consultants JLL estimate that the slump in prices could continue to at least 2018.

Dubai property prices have been falling since mid-2014 and have now returned to 2012/2013 levels.

 

The Dubai property sector witnessed a 25% increase in overall transactional activity in the first quarter of 2017.

Full article: http://www.constructionweekonline.com/article-45117-dubai-rental-prices-to-continue-to-fall-to-2018/

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