#Dubai’s apartment, villa sales prices down in Q2 | ZAWYA MENA Edition

Dubai’s apartment, villa sales prices down in Q2 | ZAWYA MENA Edition:

Dubai’s tenants and end-users are continuing to benefit from reduced apartment and villa sales prices, as well as a softening rental market, a trend expected to continue for the remainder of the year, according to leading international real estate services firm, Chestertons.

In the sales market, prices for both apartments and villas witnessed a decrease of 4% in Q2. From a villa perspective, Palm Jumeirah remained the most resilient, softening by 1% to Dh1,967 per sq ft, stated Chestertons in its Observer: Dubai Market Q2 2019 report.

In contrast, The Lakes witnessed the highest price decline at 6% to Dh1,038 per sq ft while declines in The Meadows/Springs dropped 5% to Dh854 per sq ft followed by Jumeirah Park softening by 4% to Dh827 and 3% in Arabian Ranches to Dh833 per sq ft.