With the aim of driving data transparency, dubizzle and JLL have announced their first joint property report which addresses Dubai’s residential property trends over the years up until 2016.
Curious to know what’s happened over the years ? Watch this short video below and download the report for more insights.
Here are a few of the insights we’ve gathered from the report:
- JLL’s proprietary supply data has illustrated year-on-year increase in residential supply from 2017 to 2019 is expected to average 4% per annum as compared to an average of 3% per annum in previous years.
- There could possibly be threats to the anticipated recovery in 2017 that could slow down Dubai’s economy or lead to oversupply.
- dubizzle’s data revealed average rents across Dubai decline by 4% during the past year whilst over the third quarter of 2016 rental levels remained quite stable, almost unchanged; this has led us to conclude the market bottoming out.
- Mid-market has seen a more modest decline in sale prices per sq.ft ( -2%,) than the premium housing communities (-6%) over the past year.
- In other world events, UK investment in Dubai real estate fell from 9% in the first half of 2015 to 7% in the same period this year.Britain’s vote to leave the European Union in June this year can further affect UK investment in Dubai.
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