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Sunday, 4 December 2016

Dubai property not set for early recovery | GulfNews.com

Dubai property not set for early recovery | GulfNews.com:
"The Dubai property market will likely turn around at the end of 2017, but the recovery could be delayed depending on oil prices and the US dollar, an analyst told Gulf News.
The residential sector is currently not showing any real signs that accommodation costs, in both premium and affordable locations, are getting more expensive for the average tenant. In fact, rental declines are still increasing, owing largely to the general slowdown in the job market. What this means is that the era of cheap rents is more likely here to stay, at least until late next year.
There have been claims that the rate at which housing costs have fallen are easing or slowing down, with affordable neighbourhoods reportedly showing an uptick in rents. On the whole, however, rents are still on decline.
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