Sale prices in Dubai's Discovery Gardens dropped 10 per cent in the third quarter compared with the previous quarter as thousands of new apartments entered the market.
Apartment prices fell 4 per cent overall in the quarter and villa prices remained steady, according to data compiled by the property company Asteco. And rents continued to stabilise, with rates unchanged in most neighbourhoods.
But the drop in apartment prices in Discovery Gardens, as well as a 7 per cent decline in sale prices in Jumeirah Lakes Towers 7 from the second quarter, re-enforced the perception that a two-tier market is developing in Dubai.
No comments:
Post a Comment