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Some parts of Dubai have seen residential property sales fall by more than 40% in...<\/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-316","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\/p75ss1-56","jetpack-related-posts":[{"id":239,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-sales-drop-nearly-50-in-parts-of-dubai-since-2013\/","url_meta":{"origin":316,"position":0},"title":"Property sales drop nearly 50% in parts of Dubai since 2013","date":"December 7, 2015","format":false,"excerpt":"\r New report shows that number of house sales in Dubai Marina during Jan-Oct fell to less than 1,500, down 46%\r \r Source : arabianbusiness.com\r Read more...Property sales drop nearly 50% in parts of Dubai since 2013","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20672,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/has-the-dubai-property-market-turned-house-prices-in-the-emirate-edge-up\/","url_meta":{"origin":316,"position":1},"title":"Has the Dubai property market turned? House prices in the emirate edge up","date":"July 24, 2016","format":false,"excerpt":"\r After two years of house price declines in Dubai, the UAE's largest property data company recorded a slight uptick in prices last month.According to new figures from property data company Reidin, house prices in Dubai increased by 1 per cent during the three months to the end of June,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":172636,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-catching-up-with-dubai-in-super-prime-property-sales-amid-iran-war\/","url_meta":{"origin":316,"position":2},"title":"Hong Kong catching up with Dubai in \u2018super-prime\u2019 property sales amid Iran war","date":"September 25, 2026","format":false,"excerpt":"\r Hong Kong has significantly narrowed Dubai\u2019s lead as the world\u2019s top market for \u201csuper-prime\u201d residential property in recent months, as rising conflict weighs on activity in the Middle East market, according to Knight Frank. 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I want to invest Dh1 million in a rental property to earn the maximum yield. MH, DubaiExpert one:Mario Volpi, property expert and Homefront columnist at The NationalTo get straight to the point, 2016 will be a great\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38596,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-supply-to-lower-dubai-suburban-rents-in-2017\/","url_meta":{"origin":316,"position":5},"title":"New supply to lower Dubai suburban rents in 2017","date":"December 19, 2016","format":false,"excerpt":"\r Dubai rents are set to decline further next year with more than 20,000 new homes entering the market, brokers say. 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\n Some parts of Dubai have seen residential property sales fall by more than 40% in the last two year but looking ahead the market is set to pick up in 2016.Reports from the Unitas Consultancy and Reidin show that house sales in Dubai Marina, for example, fell to less than 1,500 in the first three quarters of 2015 compared to 2,250 during the same period in 2014, and down from 2,700 in 2013, a fall of 46%.In Downtown Dubai the number of sales fell to 500 compared with 800 in 2014 and 750 in 2013, a 30% drop over two years and in the Greens the drop was around 42%, according to data from Reidin.In Jumeirah Lakes Towers (JLT) sales were flat in 2015 at 1,200 but down 31% from 1,600 in 2013, but the company said that the pace of decline in the same areas appeared to be slowing in the third quarter of 2015 and in some areas there has been a slight uptick.For example, in JLT, there were around 400 transactions in the third quarter of 2015 compared with 390 in the same period last year but down from 600 in 2013 while in Downtown there were around 190 sales in the third quarter of this year, higher than 180 recorded in 2014 but still down on 210 in 2013.However, in Dubai Marina there were around 400 transactions in the third quarter of this year, down from 450 the previous year and around 900 in 2013.The report points out that sales are down by a maximum of 46% and a minimum of 30%, however, a comparison between the third quarter of 2014 and 2015 show an uptick in activity by an average of 8% has been recorded.\u2018This uptick is likely due to the fall in prices that have been witnessed in this segment and we believe that this trend in the market will continue as prices will soften further. The rise in transaction volumes also indicates market expectations that participants feel that the fall in the market prices may be nearing an end,\u2019 it adds.The research also shows that sales in mid-priced properties in areas such as International City and Discovery Gardens have been more resilient since 2013, falling only 11% on average, compared to an overall average of 21% in high-end areas.The report also found mortgages accounted for a larger portion of sales in 2015 compared to previous years. \u2018Mortgages are considered to be an indication of home ownership, which highlights the shift of the market from an investor based to an owner occupied one,\u2019 the report pointed out.\u2018However, there are instances where mortgage transactions outweigh sales, especially in the periods of a downturn implying a higher number of refinancing and other types of transaction taking place,\u2019 it added.
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\nSource : propertywire.com
\nRead more…Property sales have fallen by up to 46% in parts of Dubai in last two years<\/a><\/p>\n