Stability for residential property price in Dubai for Q1 2017

Date: June 23 2017

Quarter 1 in Dubai shows little change in prices for residential properties, rating the actual price situation to be probably the rock bottom after the price decline accused in whole 2016.

Both rental prices and selling price for apartments are showing stable figures against Q3 of 2016 and with a rental price decline of only 1% for the same period. The data analysed is excluding the luxury properties (source: the real estate firm JLL MENA - Dubai RE Q1 report).

As long as there is a agreement in reading this to be the landing point of decline in prices for real estate Dubai market, it is a great debate about UAE economy recovery.

For the time being it is quite evident that the present situation will see no change until late 2017.

Analysts read a strong connection between the global economy stalling and the recovery of the Dubai economy. So as the global economy remains unstable, the Dubai economy continue to only slow down.

Together with the local economy slow-down, it is reported that only 50% of the 28,000 units foreseen for delivery in 2017 will be effectively delivered, less than expected but still in line with 2016 yearly figures.

 

 

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