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FINANCIAL NEWS
Dubai Q1 house prices unchanged from Q4 2011: Survey
02 Jun 2012
(MENAFN) A survey conducted by Knight Frank Global House showed that Dubai’s house prices remained flat during the first quarter of 2012, Arabian Business.
Average prices were unchanged from the fourth quarter of 2011, and were 0.3 percent down in the last six months, according Knight Frank Global House Prices Index.
The gauge also placed the Gulf emirate in the 29th position on the list of 53 real estate markets worldwide, as its house prices saw a decline by 1.1 percent from a year.
In April, Jones Lang LaSalle said residential property prices in Dubai hit a record low, reaching prices not seen since early 2008.
It said that villa sales rose 3 percent in the first quarter of 2012, compared to a peak in the third quarter of 2008, stayed 25 percent lower from that period, depending to the data from REIDIN.
It said apartment sales in the emirate also started to stabilize in the January-March period, but prices remained low, down 34 percent compared to the third quarter of 2008.
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