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
Nakheel begins handover of 892 homes at Jebel Ali Village
Indian state shuts some Domino's, Pizza Hut outlets, citing hygiene lapses
ADNOC's XRG advances global gas strategy with Venezuela entry
Iger, Kushner purchasing Lakers for record $12.5 billion
Chair of India's Tata to step down after tension with controlling charity
