Dubai rent, sale prices continue quarterly fall

Agents expect further falls in Dubai rental values of up to 5 percent, according to the Property Monitor survey. (Shutterstock)

• Rental payments made in four checks increased by 6 percent during 2Q
• Off-plan sales accounted for the majority of the total in the second quarter of 2018

LONDON: Dubai’s residential property market witnessed a continued decline in rents and sales prices during the second quarter of 2018 according to a new report on the emirate’s real estate sector.

Figures released by Cavendish Maxwell, in its 2Q 2018 Dubai Market Report, registered quarterly declines of 1.1 percent in residential sales prices and an average 2.5 percent drop in rental values.

FASTFACTS

2.5%: Drop in Dubai rental values in the past three months. Residential sale prices fell by 1.1 percent.