Just released – Cavendish Maxwell’s Dubai House Price Index March 2019 Report.
Highlights:
Prices declined by 1.7% month-on-month similar to the monthly change recorded in January 2019.
In March 2019, the annual decline in house prices was more pronounced in communities such as Arabian Ranches, Emirates Living, Dubai Silicon Oasis, Jumeirah Islands and Dubai Sports City, where house prices declined by more than 12% on average.
The rate of off-plan apartment transfers remained high in March, as has been the case over the past 12 months. However, the total volume of residential transactions over Q1 2019 was 3% lower than the same period in 2018. Meanwhile, the volume of apartment transfers over Q1 2019 decreased by nearly 14% compared to the same period in the past year.The Dubai House Price Index from Property Monitor tracks the prices of a selection of apartment and villa/townhouse properties from September 2015.
In light of the above, we still need to consider that prices have fallen from an undersupplied market and Dubai has now developed into a developed City with a variety of housing available.
If you are looking to sell or lease keep in weekly contact with your agent to ensure you are in the best price point and check your property online and see where you sit in searches for likewise properties.
If you would like advice on whether to sell or lease your property please do not hesitate to contact me for a full valuation report and advice.
Laura Adams
Managing Director
Carlton Real Estate
data from propertymonitor.ae
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