Dubai property declines pick up speed as more units come into market:
Property prices in Dubai started falling at a faster pace towards the end of the year, most likely brought on by the sheer volume of new homes being delivered. Much the same was being felt in the residential rental space as well, according to the latest Knight Frank report.
The report estimates that in the three months up to November, values were down 4 per cent. Taken over a 12-month timeframe, the rate of decline is pegged at 4.1 per cent.
On rentals, the three-month period saw a 3.9 per cent dip, while from a year-on-year perspective, the decline was 8.6 per cent.
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