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
Dubai Chambers explores trade and investment opportunities in Ethiopia
Dubai's RTA reports over 20% growth in digital revenue
UAE economy expands 6.2%, GDP reaches AED 1.9 trillion
UAE highlights trade, logistics cooperation at Eurasia forum
UAE explores Caribbean trade partnership at regional summit
