Homes in Dubai are getting affordable for more people, with average sales prices and rents dropping during the third quarter of this year.
According to the real estate firm Cavendish Maxwell’s latest data, apartment rates dropped by 16.5 per cent, and average villa/townhouse prices fell 15 per cent.
Rental declines for apartments averaged 15 per cent, while villas/townhouses registered a 12 per cent fall compared to Q3 in 2018.
The report says the drop is mainly due to the steady supply of new homes.
It predicts between 5,000 and 7,000 units to be handed over in Dubai during the fourth quarter of 2019.
Indian state shuts some Domino's, Pizza Hut outlets, citing hygiene lapses
ADNOC's XRG advances global gas strategy with Venezuela entry
Iger, Kushner purchasing Lakers for record $12.5 billion
Chair of India's Tata to step down after tension with controlling charity
Emirates offers flyers to Dubai unlimited free date changes
