FINANCIAL NEWS

Villa prices in Dubai jump 23% in Q3

07 Nov 2012

(MENAFN) Jones Lang LaSalle (JLL) stated that in the third quarter, villa prices in Dubai jumped 23 percent from the same period a year ago, reported Emirates 24/7.

However, growth in the apartment sector rose by just 4 percent from 2011’s same period.

The global consultancy noted that the emirate’s residential market is experiencing higher levels of sales activity, while the prime market is now rebounding.

It added that in the January-September period, nearly 6,000 new units were finished, whereas another 17,000 units are forecasted to come to the market before the end of 2012.

It is worth noting that approximately 460,000 square meters of office space are estimated to have been delivered during the 9-month period, while another 335,000 square meters are likely to come to the market by the end of the year.

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