A new report on Dubai’s real estate market is predicting a decline in occupier demand which could lead to a further drop in property values. The consultancy firm Phidar Advisory’s study also indicates that a short-term turnaround in prices is not expected. According to stats for the first quarter of 2016, apartment lease rates fell by over 2%, and villa rents by 4.7%, with the pressure mainly on high-end properties. However, Jesse Downs, Managing Director of Phidar Advisory says the current conditions cannot be compared with the downturn in 2008-2009.
Listen
UAE tourism ready to bounce 'back stronger', says minister
UAE President meets German business leaders during state visit
UAE President attends Germany-UAE Business Forum
Al Maktoum International Airport to open second runway in 2027
UAE to strengthen position in BRICS at upcoming summit
