Abu Dhabi’s real estate market saw the largest annual price declines in the world during the fourth quarter of 2017, according to consultants Knight Frank.
House prices in the UAE capital fell by 9.1 percent in the year, placing it at the bottom of the latest global list of 150 countries.
Berlin led the annual rankings for 2017, ahead of Izmir in Turkey and Reykjavik in Iceland while Chinese cities registered a marked slowdown in 2017 averaging 1.6 percent growth.
US cities averaged 6.3 percent growth in 2017, despite four rate rises since December 2016 while Spain’s Seville and Hong Kong stood out as the most improved markets in 2017.
Analysis on a country-by-country basis showed Iceland was home to the strongest-rising urban house prices and Peru the weakest in 2017.
Source – Arabian Business