Revealed: how UAE property price declines compare globally - Arabianbusiness:
Dubai and Abu Dhabi posted two of the highest property price declines in the world, according to Knight Frank's latest Global Residential Cities Index.
The index, which covers real estate markets in 150 countries and tracks performance in the 12 month period from Q3 2019, showed that average Abu Dhabi prices fell by 7.7 percent.
Knight Frank ranked it 149th out of 150 cities, with Jerusalem the only worst performing market (-13.6 percent) compared to the year-earlier period.
Dubai fared little better and was ranked 146th with an annual price drop of 7.3 percent.
The report comes as Dubai property prices continue to fall by around 30 percent compared to their peak five years ago.
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| The report comes as Dubai property prices continue to fall by around 30 percent compared to their peak five years ago. |
Dubai and Abu Dhabi posted two of the highest property price declines in the world, according to Knight Frank's latest Global Residential Cities Index.
The index, which covers real estate markets in 150 countries and tracks performance in the 12 month period from Q3 2019, showed that average Abu Dhabi prices fell by 7.7 percent.
Knight Frank ranked it 149th out of 150 cities, with Jerusalem the only worst performing market (-13.6 percent) compared to the year-earlier period.
Dubai fared little better and was ranked 146th with an annual price drop of 7.3 percent.
The report comes as Dubai property prices continue to fall by around 30 percent compared to their peak five years ago.
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