Property sales and rental prices continue to drop in Dubai
Property sales prices and rental rates in Dubai are set to fall further throughout 2018.
That’s according to a new report from Chestersons, which says that the addition of new stock coupled with tough economic conditions and moderate population growth is placing further pressure on prices.
Covering the first three months of this year, the report found that sales prices dropped five per cent compared to the previous quarter, whilst rental rates fell by two per cent.
Meanwhile, there was a ten per cent increase in recorded transactions for completed units, with affordability cited as a key reason, but the level of off-plan transactions decreased by 19 per cent.