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Dubai News

Dubai property values inch back into positive zone

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06-Nov-2016

The decline in Dubai’s property values — something that’s been there since mid-2014 — seems to be coming to an end going by the latest data. In fact, the mid-market freehold clusters in the city are already showing some price gains, though still marginal.


At the same time, high-end locations — traditionally favoured by investors and which recorded the sharpest declines during the last 24 months — are either showing price stability in recent transactions or managed to lower the rate of decline appreciably, the latest Reidin-GCP data finds.


In the year-to-date, apartment values in Dubai are only down 0.5 per cent against what they were last year, while villas are 0.5 per cent higher this year.


With 2017 drawing near, the real estate sector and activity levels within it could be the silver lining that the local economy was direly in need of. Among the popular communities to be in positive territory on a year-to-date basis, there are the Springs and Meadows, as well as Discovery Gardens and Sports City.


 

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