{"id":1078,"date":"2016-01-09T22:23:50","date_gmt":"2016-01-09T15:23:50","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=1078"},"modified":"2016-01-09T19:32:07","modified_gmt":"2016-01-09T12:32:07","slug":"has-the-fall-in-dubai-property-prices-come-to-an-end","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/has-the-fall-in-dubai-property-prices-come-to-an-end\/","title":{"rendered":"Has the fall in Dubai property prices come to an end?"},"content":{"rendered":"


\n
\nDubai\u2019s residential property market is showing signs of plateauing after about 18 months of price declines.New figures from the consultancy ValuStrat show that there was \u201cno significant change\u201d in values of apartments and villas in the 26 areas that it monitors. It said that its ValuStrat Price Index remained constant at 97.9 per cent \u2013 the first time that no monthly change has been recorded since the current market correction began in mid-2014. The Index compares prices from a 100 point base that was set in January 2014.
\nThe Valustrat research manager Haider Tuaima said that the pace of decline in its house price index had started to slow early in 2015, and for the past few months the change in values registered had been negligible, indicating \u201ca plateau in prices\u201d.\u201cSome might suggest that this is a bottoming out of the market and the only next step is for values to go up,\u201d he said. \u201cWe\u2019re not saying that at the moment, but it seems the signs are indicating that we\u2019ve reached a predictable stage of the market. It\u2019s very much stable. If all other economic factors are the same, we are assuming it will stay this way for the next three to six months.\u201d
\nAhmet Kayhan, chief executive of the real estate data specialist ReidIn, said that its figures also showed that price declines were coming to an end. Its latest data shows a 2 per cent fall in prices during the three months to December, but Mr Kayhan told The National that apartment prices started to turn in October 2015, registering their first increase in 13 months. Villa prices continued to fall for another couple of months, but they also plateaued in December.
\n\u201cThe main reason around that is the rental yield,\u201d said Mr Kayhan. \u201cYields have come to a level which is making the market really, really attractive [for investors].\u201cWhen you look at the yield numbers right now, you\u2019re looking at 7.5 to 8 per cent for the general apartment market. And you\u2019ve got 9 to 10 per cent for smaller units and more affordable property in places like Discovery Gardens, International City and B-type units in JLT.\u201d
\nMeanwhile, Dubai Land Department (DLD) said that the value of real estate transactions registered in the city increased by 8 per cent in 2015 to Dh267 billion.The total number of transactions \u2013 including sales, mortgages and transfers \u2013 also increased by 18 per cent to 63,719 (2014: 53,871).Sales of land and buildings made up 49 per cent of the total, with more than 48,000 transactions adding up to Dh130bn of deals. That means the number of homes sold increased by 26 per cent when compared with last year\u2019s published figures, while the value of deals increased by 16 per cent.
\nThe DLD director general Sultan Butti bin Mejren said that the figures prove Dubai\u2019s real estate market \u201cis able to continue to attract investors from around the world, which means that it is likely to maintain sustainable growth for years to come\u201d.mfahy@thenational.aeFollow The National\u2019s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Has the fall in Dubai property prices come to an end?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai\u2019s residential property market is showing signs of plateauing after about 18 months of...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-1078","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-ho","jetpack-related-posts":[{"id":21156,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-residential-values-decline-by-1-1-in-q2-valustrat\/","url_meta":{"origin":1078,"position":0},"title":"Dubai residential values decline by 1.1% in Q2 \u2013 ValuStrat","date":"July 27, 2016","format":false,"excerpt":"\r Latest index also shows 5.7% year-on-year drop in median transaction price\r \r Source : arabianbusiness.com\r Read more...Dubai residential values decline by 1.1% in Q2 \u2013 ValuStrat","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57824,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/house-prices-in-dubais-motor-city-rebound-to-near-2014-peak\/","url_meta":{"origin":1078,"position":1},"title":"House prices in Dubai's Motor City rebound to near 2014 peak","date":"June 13, 2017","format":false,"excerpt":"\r Dubai Marina, JBR and JLT continue to see monthly price declines, says ValuStrat\r \r Source : arabianbusiness.com\r Read more...House prices in Dubai's Motor City rebound to near 2014 peak","rel":"","context":"In "Property 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Buyer interest at two-year high, says propertyfinder.ae","date":"May 15, 2016","format":false,"excerpt":"\r Property portal propertyfinder.ae has said that buyer interest in new homes in the UAE is running at its highest level in two years, having increased by 28 per cent since January.The company said that property prices had fallen by 20-40 per cent in most parts of the country over\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":128191,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-residential-capital-values-posts-a-7-5-percent-jump-in-2021\/","url_meta":{"origin":1078,"position":4},"title":"Abu Dhabi residential capital values posts a 7.5 percent jump in 2021","date":"June 10, 2022","format":false,"excerpt":"\r Overall average residential asking rents in the UAE capital rose 6.1 percent on an annual basis, registering the highest growth rate since 2016, a ValuStrat report indicated\r \r Source : arabianbusiness.com\r Read more...Abu Dhabi residential capital values posts a 7.5 percent jump in 2021","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/06\/Al-Reem-island-in-Abu-Dhabi-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":39211,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-house-prices-are-flatlining-says-reidin\/","url_meta":{"origin":1078,"position":5},"title":"Dubai house prices are flatlining, says ReidIn","date":"December 30, 2016","format":false,"excerpt":"\r Dubai's residential property market has shown signs that declining values may be coming to an end, according to brokers, with new figures from property data coompany Reidin stating that residential values were flat in the 12 months to November 2016.Reidin reported a tiny monthly decline in prices of 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