Dubai real estate prices, rents slide in Q3

Dubai real estate prices, rents slide in Q3
01/10/2018 , by , in INTERNATIONAL

Real estate purchase and rental prices have fallen modesty in the third quarter of 2018. prices for renting apartments decreased slightly, with the most significant decreases being for two-bedroom units in Deira and International City, where prices fell by as much as 8.3 percent.

In other areas, such as Al Nahda, Dubai Sports City and Jumeirah Lakes Towers, rents were more or less stable when it came to rents throughout the quarter.

The most searched for area, remains Dubai Marina, where the average cost for renting a studio is AED 55,000, compared to AED 81,000 for one-bedroom and AED 120,000 for two-bedrooms. Across Dubai, rents were found to not have fallen drastically in any of the top 10 locations compared to the previous quarter.

When it came to sales, most areas reported a fall in prices, particularly for studios in International City (8.2 percent). In Jumeirah Village Circle, however, prices for studios went up from AED 440,000 in Q2 to AED 473,000 in Q3.

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