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26-11-15
Dubai house prices decrease 5 percent
(MENAFN) Dubai house prices fall down to 5 percent at the end of 2016, whereas values for both apartments and villas plunged slightly during the third quarter.
Accordingly, almost 65,000 housing parts will be finished by the end of 2018, compared with 45,000 finished in 2008, while some developers may postpone the reach of new projects until the market develops.
However; in London, the average value of an apartment stands at USD 1.3mn, whereas the regular value of domestic property in Dubai almost reached USD 392mn.
"We expect 7,400 units to complete in 2016, 10,300 in 2017 and a further 13,600 in 2018, with the new schemes launched during the past quarter," said CEO of Cluttons Middle East.
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