The apartment in Discovery Gardens, Business Bay, The Views and International City have recorded the largest drop in prices, while the price at JLT, Dubai Motor City and maintains constant Remraam.
Revenue from real estate (real estate) in Dubai residential area in QIII / 2016 has decreased by 24% compared to the previous quarter. House prices and rents have fallen slightly.
Dubai real estate
In the third quarter / 2016, the value of transactions decreased by 24%
QoQ. Illustration.
Reports from the International Property Company Chestertons (Dubai) shows, villa and apartment prices fell by 1%, rents fell by 1% qoq.
Residential real estate revenue of 3.45 billion AED worth, in Dubai Marina - concentrated area residential real estate sales with the AED 654 million.
The apartment in Discovery Gardens, Business Bay, The Views and International City have recorded the largest drop in prices, while the price at JLT, Dubai Motor City and maintains constant Remraam.
Robin Teh, director, said the United Arab Emirates, Dubai Marina remains an attractive location for investors with a high degree of stability.
The highest trading value in areas such as Palm Jumeirah, Emirates Living and Downtown Dubai remained stable.
On the rental market, prices fell 1% for both villas and apartments. In particular, one-bedroom apartments average fell 57,000 AED / year in Remraam. 2 bedroom apartment in Downtown Dubai, JLT and the Greens gained 2%. The average rent for apartments 3 bedrooms in DIFC, Dubai Marina and Downtown Dubai remained stable.
On the office market, the total number of transactions fell by 20% at 389 million AED. In the third quarter / 2016, the value of transactions decreased by 24% compared with the previous quarter, with the majority of transactions in JLT and Business Bay.
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