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FinancialNews
26-01-19
Dubai sees 11 percent drop in residential market sales
(MENAFN) Dubai's real estate market declined last year by 11 percent to generate USD10.6 billion in its sales compared to a year earlier.
According to a Luxhabitat analysis, Dubai witnessed a boost in its average price per square foot for villas, marking a higher interest for quality units.
In the residential industry in Dubai, the report said, over 5,454 villas and 25,595 apartments were sold last year.
"Developers will need to offer more incentives than at their current levels. As the supply increases, there is a larger pool of investments to choose from. 2019 looks to be a buyer's market, with further price stabilization," Luxhabitat added.
MENAFN2601201900450000ID1098025921
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