Dubai homes 22% cheaper than market peak in 2014
October 08, 2018 - Dubai
Property values in Dubai are 22% cheaper since the peak of mid-2014, according to a third quarter report issued by local consulting firm ValuStrat.
Although residential capital values dipped by 9% in third quarter of 2018, the decline has slowed to 2.9% since the previous quarter.
"Our research has shown that this quarter saw increased investor focus on ready-to-move-in apartments and villas priced between Dh3 million and Dh5 million, causing the average ticket size to jump," said Haider Tuaima, head of real estate research at ValuStrat.
All established freehold locations witnessed price drops since the last quarter, ranging from 0.2% to 5%, said ValuStrat.
Quarterly declines of more than 4% were registered in Jumeirah Islands, Business Bay, Palm Jumeirah (apartments) and Discovery Gardens. Capital values for villas in Palm Jumeirah and Al Furjan remained mostly flat as compared to Q2.
Source : khaleejtimes.com
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