The rate of falling Dubai property prices slowed to its lowest mark for 16 months in October, signalling the possibility of values nearing their bottom following years of declines.
According to new research from consultants ValuStrat, residential values in the emirate dipped by just 0.7 percent, the lowest rate since June 2019.
It said this rate of decline has continued to decelerate from 1.9 percent during the April-June lockdown restrictions.
Annually, residential capital values declined 14.4 percent, it added.
ValuStrat said citywide prices are yet to stabilise, as the downward trend continued, albeit, at a slower pace.
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