Dubai’s residential market is expected to continue its gradual softening throughout the remainder of 2016 and into 2017.
Tagged – ‘Dubai prices’
Over the past decade, Dubai has been on a real estate roller-coaster ride of boom, crash and recovery.
In the final three months of last year, the number of residential transactions in Dubai’s prime segment (comprising properties worth over AED 10 million) hit the lowest level since end-2012.
Lower oil prices are leading many in the GCC to wonder about the possible implications for real estate.
Knight Frank’s Prime Global Cities Index shows luxury residential prices across the index’s 32 cities rose by 6.2% on average in the year to June 2014.