Monday, Jun 06, 2016

Dubai: The real estate market in Dubai is showing more signs of bottoming out, with the house prices alone reaching a plateau, a new report shows.

The May 2016 ValuStrat Price Index (VPI) showed that there’s a “clear trend of a plateau” in Dubai’s residential prices, as forecasted in previous reports since last year.

Furthermore, minor price uplifts and notable increased in Dubai Land Department (DLD) transaction volumes in several locations last month, added to possible signs of a bottoming-out in monthly values across most of the 26 areas monitored for apartments and villas.

The index registered 98.0 points last month, showing no significant change in values when compared to the previous eight months, and down 1 per cent when compared to the same period last year. “This marks a continuation of evidence of price stabilization,” ValuStrat said.

At the same time, the villa market registered 96.7 points, down just 0.2 per cent since January, while the apartment market registered 98.8 points, up 0.3 per cent since January.

Staff Report

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