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FINANCIAL NEWS
Dubai’s real estate prices down 12.7 percent in Q3
08 Oct 2015
(MENAFN) Dubai’s residential real estate prices dropped by 12.7 percent in the third quarter of 2015, research by industry consultancy Tasweek has claimed, reflecting other market analyses published recently.
Tasweek’s latest UAE market report found that Dubai saw the most substantial decreases in average residential sales prices. However, it then added that residential prices in Dubai “remain stable overall”.
Consultancy JLL’s latest market report claimed apartment prices in Dubai have fallen 11 percent in the past 12 months and will decline further because of tighter regulations, rising inflation and a strong UAE currency.
The median transacted apartment price was USD3,147 per sq m (AED 1,074 per sq ft) for Q3 2015, while the median transacted villa price was AED13,024 per sq m (AED 1,210 per sq ft).
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