{"id":24609,"date":"2016-09-01T17:06:52","date_gmt":"2016-09-01T10:06:52","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=24609"},"modified":"2016-09-01T15:25:55","modified_gmt":"2016-09-01T08:25:55","slug":"dubai-house-prices-move-into-positive-territory-for-first-time-in-two-years","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-house-prices-move-into-positive-territory-for-first-time-in-two-years\/","title":{"rendered":"Dubai house prices move into positive territory for first time in two years"},"content":{"rendered":"


\nHouse prices in Dubai moved into positive territory for the first time in two years in the second quarter, according to Core Savills.The property consultancy said that after seven consecutive quarterly declines, Dubai’s residential sales market witnessed a 1 per cent marginal quarter-on-quarter growth in the three months to June.Transaction volumes also picked up during the period, and were 5 per cent higher than in the first three months of the year.David Godchaux, the chief executive of Core Savills, said that it was “too soon” to cite this as a revival in the market, especially as sales activity in the third quarter is likely to to be weaker due to the slower summer months.”Nonetheless, we expect transactions to gather momentum again throughout Q4 2016 and into 2017, providing there are no external shocks affecting the market sentiment,” he said.He believes that many investors who waited on the sidelines for the market to bottom out “are slowly going ahead with their buying instructions as the prices have hit a plateau across most of Dubai’s submarkets and are showing resistance to further drops”.________________\u2022 Dh70m Burj Khalifa penthouse with balcony takes luxury to a new level in Dubai – in pictures________________”Furthermore, landlords who wish to sell in this bottoming market are also keeping realistic reserve prices.”House prices should also be supported by the fact that expected delivery numbers should once again fall below forecasts in 2016, with just 35 per cent of anticipated new supply likely to be handed over. In the first six months of the year, just 3,000 new homes were delivered in Dubai, and the company only expects 5,500 to be completed during the second half of the year.In terms of areas, The Springs and The Meadows were the top-performing villa districts, reporting a 3 per cent increase in prices on the first quarter, although they remain 7 per cent lower than in the same period last year. Jumeirah Village was the weakest villa district \u2014 prices dropped by 5 per cent quarter-on-quarter and are down 17 per cent year-on-year. In terms of apartments, the only district to witness a sales price rise was Discovery Gardens, which was up 4 per cent on the first three months. Again, apartment prices in Jumeirah Village were down by 5 per cent.Rents were largely flat in most of the city’s communities, but in Emirates Hills and Palm Jumeirah villa rents dropped by 2 per cent and in Dubai Sports City and Dubailand they dropped by 3 per cent. Al Barari witnessed the biggest decline \u2014 down 4 per cent.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Dubai house prices move into positive territory for first time in two years<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

House prices in Dubai moved into positive territory for the first time in two years...<\/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-24609","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\/p75ss1-6oV","jetpack-related-posts":[{"id":35212,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-property-prices-widely-expected-to-rise-in-2017\/","url_meta":{"origin":24609,"position":0},"title":"Dubai property prices widely expected to rise in 2017","date":"November 21, 2016","format":false,"excerpt":"\r Brokers and analysts are certain that Dubai residential house prices will rise next year but disagree over the speed of the property market's recovery. Two reports yesterday by JLL and dubizzle and by Core Savills are forecasting that Dubai's property market will recover much faster than the end of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35214,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-property-prices-to-rise-in-2017-but-how-quickly\/","url_meta":{"origin":24609,"position":1},"title":"Dubai property prices to rise in 2017, but how quickly?","date":"November 21, 2016","format":false,"excerpt":"\r Brokers and analysts are certain that Dubai residential house prices will rise next year but disagree over the speed of the property market's recovery. Two reports yesterday by JLL and dubizzle and by Core Savills are forecasting that Dubai's property market will recover much faster than the end of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54735,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-residential-launches-lift-profit-amid-positive-economy\/","url_meta":{"origin":24609,"position":2},"title":"Emaar residential launches lift profit amid 'positive economy'","date":"May 14, 2017","format":false,"excerpt":"\r A spike in the value of sales of new residential property in Dubai helped lift first-quarter profit for developer Emaar amid what its chairman calls a positive economic environment in the emirate. The developer said that its preliminary net profit for the first three months was 15 per cent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43955,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/falling-dubai-housing-rents-to-come-under-further-pressure-this-year\/","url_meta":{"origin":24609,"position":3},"title":"Falling Dubai housing rents to come under further pressure this year","date":"February 13, 2017","format":false,"excerpt":"\r Housing rents in Dubai fell during the final quarter of 2016 and look set to come under further pressure this year.According to property broker Asteco, average apartment rents in Dubai fell by 5 per cent in the final three months and ended the year an average of 6 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10930,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-rents-and-house-prices-continue-to-soften\/","url_meta":{"origin":24609,"position":4},"title":"Dubai rents and house prices continue to soften","date":"April 19, 2016","format":false,"excerpt":"\r \r The price of houses in Dubai fell by 10 per cent year-on-year in the first quarter of 2016, but are now reaching the bottom of the market, according to consultancy JLL.The consultancy said in its Real Estate Market Overview that the market has continued to soften due to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":58706,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-residential-sales-dominated-by-off-plan-purchases\/","url_meta":{"origin":24609,"position":5},"title":"Dubai residential sales dominated by off-plan purchases","date":"June 23, 2017","format":false,"excerpt":"\r Off-plan property transaction now make up almost half of all residential sales in Dubai, with buyers taking advantage of increasingly generous payment plans, according to listings portal propertyfinder.ae.The company said cheaper homes and lower deposit requirements were driving investors towards off-plan deals. It said median prices for homes have\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24609"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=24609"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24609\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=24609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=24609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=24609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}