Dubai Property Prices down 27% and Rentals down 9%
It would appear that Dubai is suffering in its real estate sector with property prices down 27% and rentals down 9% quoted in a report released by the Gulf Business website. The article concentrates on prices between now and back to the market peaks of mid 2014 – Prices in Q1 2019 fell 12.5% year on year and 3.2% quarter on quarter (figures by ValuStrat Price Index).
Haider Tuaima, head of Real Estate Research at ValuStrat, was quoted as saying: “As capital values softened by an average of 1 per cent per month for the last 16 months, a six-month streak in buying activity has been observed for both off-plan and ready homes… ”
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