Dubai rents 'stabilising' as confidence returns to property market: Chestertons | ZAWYA MENA Edition:
Rental rates across Dubai are “stabilising,” while the sales prices of apartments are falling at a slower pace, prompting analysts to believe that confidence is now returning to Dubai’s real estate.
The property specialist said on Sunday that the housing rents in most locations in the emirate either remained stagnant or posted a minor decline in the fourth quarter of 2019.
During the same period, sales prices of flats and villas continued to dip by 2 percent and 3 percent, respectively, but the declines were not as significant as in the previous quarter.
“The Dubai residential market in Q4 2019 is alluding to a more positive outlook for 2020, thanks to the slowdown of sales price declines and the levelling of rental rates,” said Chris Hobden, head of strategic consultancy at Chestertons Middle East and North Africa (Mena).
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