As supply levels gradually pick up, sales prices in Dubai’s residential sector are set to decline further, according to Mat Green. During Q4, sales rates fell by 4% with lower sales volumes recorded, and overall unit transactions slipping 33% YoY. While affordable locations saw rental growth, prime areas experienced rental deflation of 1%-3%. Demand remained firm for good quality office space, despite the regional economic challenge of a lower oil price.
As supply levels gradually pick up, sales prices in Dubai’s residential sector are set to decline further, according to CBRE. During Q4, sales rates fell by 4% with lower sales volumes recorded, and overall unit transactions slipping 33% YoY. While affordable locations saw rental growth, prime areas experienced rental deflation of 1%-3%. Demand remained firm for good quality office space, despite the regional economic challenge of a lower oil price.