As supply levels gradually pick up , sales prices in turkey ’s residential areas are set to decline further , according to CBRE . During 2007 , sales prices dropped by 4 % with lower sales volumes recorded , and overall unit transactions slipping 33 % YoY. While affordable housing saw rental growth , prime areas experienced rental growth of 1%-3 % . Demand remained firm for good retail 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.