{"id":3213,"date":"2016-01-31T22:16:14","date_gmt":"2016-01-31T15:16:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=3213"},"modified":"2016-01-31T19:53:26","modified_gmt":"2016-01-31T12:53:26","slug":"dubai-house-prices-and-rents-still-slipping-but-worst-appears-to-be-over","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-house-prices-and-rents-still-slipping-but-worst-appears-to-be-over\/","title":{"rendered":"Dubai house prices and rents still slipping but worst appears to be over"},"content":{"rendered":"


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\nAverage house prices in Dubai fell by 0.14 per cent in December as investors search for signs that price falls are finally levelling out.According to the property data company Reidin, house prices fell by an average of 11 per cent over the 12 months of 2015 as lower oil prices, the strong dollar and geopolitical unrest continued to affect the city’s real estate.Both apartment and villa prices were affected, Reidin said, with apartment prices in December falling 0.14 per cent compared with the previous month – translating to an 11.1 per cent year-on-year fall. And villa prices were down 0.10 per cent compared with the previous month – a 10.9 per cent fall compared with a year ago.
\nHowever, Reidin said that rents in the city had fallen far less dramatically – dropping 1.03 per cent month-on-month and by an average of 3.2 per cent over the year.It found that average apartment rents fell 1.1 per cent compared with the previous month and 2.9 per cent over the year, while villa rents were down 0.64 per cent month-on-month but fell 4.6 per cent compared with a year earlier.In undersupplied Abu Dhabi, it was a different story, Reidin said that average house prices had stayed pretty much static all year, declining by just 0.8 per cent over the year and barely moving in December.
\nIt said that apartment prices were down by an average of 3.4 per cent over the year but actually increased slightly in December. Villa prices rose by an average of 2.4 per cent over the year and 0.7 per cent in December from a month earlier.At the same time rents in the capital reportedly fell 3.8 per cent over the year and were down 1.36 per cent in December compared with the previous month.In January last year the property broker JLL predicted house prices and rents in Dubai would fall by 10 per cent as the market reacted to the dramatic house price inflation over the previous 18 months.
\n“Following a rapid increase of residential rents and prices between 2012 and 2014, the market has now clearly stabilised, with sales prices falling in Dubai and remaining stable in Abu Dhabi during 2015 – but with a significant decline in transaction volumes in both markets,” said Craig Plumb, head of research at JLL Mena. “Prices are expected to decline further over the next six months.”But last month the consultancy ValuStrat reported “no significant change” in values of apartments and villas in the 26 areas that it monitored in Dubai in December, leading the research manager Haider Tuaima to say that it indicated “a plateau in prices”.
\nMr Tuaima said: “Some might suggest that this is a bottoming out of the market, and the only next step is for values to go up. We are not saying that at the moment, but it seems the signs are indicating that we have reached a predictable stage of the market. If all other economic factors are the same, we are assuming it will stay this way for the next three to six months.”lbarnard@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Dubai house prices and rents still slipping but worst appears to be over<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Average house prices in Dubai fell by 0.14 per cent in December as investors...<\/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-3213","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-PP","jetpack-related-posts":[{"id":42021,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cost-of-buying-or-renting-home-in-abu-dhabi-lower-reidin-says\/","url_meta":{"origin":3213,"position":0},"title":"Cost of buying or renting home in Abu Dhabi lower, Reidin says","date":"January 27, 2017","format":false,"excerpt":"\r The cost of buying or renting a home in Abu Dhabi fell in December, according to a report on Thursday from the property data company Reidin.It said the capital's home prices were down 0.97 per cent from a month earlier and 3 per cent from a year earlier. It\u2026","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":3213,"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":23853,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/low-oil-prices-continue-to-bite-into-abu-dhabi-housing-rents\/","url_meta":{"origin":3213,"position":2},"title":"Low oil prices continue to bite into Abu Dhabi housing rents","date":"August 24, 2016","format":false,"excerpt":"\r Housing rents in Abu Dhabi fell 2 per cent in the three months to the end of July as the global fall in oil prices continued to bite.According to new figures from the property data company Reidin, average rents fell 0.61 per cent in the month of July.Rents in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39211,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-house-prices-are-flatlining-says-reidin\/","url_meta":{"origin":3213,"position":3},"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 just\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20774,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/experts-see-dubai-house-prices-dropping-for-another-18-months\/","url_meta":{"origin":3213,"position":4},"title":"Experts see Dubai house prices dropping for another 18 months","date":"July 25, 2016","format":false,"excerpt":"\r Apartment prices in Dubai will continue to drop further in the next 12 to 18 months because of weak demand from institutional buyers and occupiers, the research firm Phidar Advisory said.Apartment prices in Dubai declined a further 3.7 per cent in the second quarter of this year, and villa\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20776,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/experts-forecast-that-dubai-house-prices-will-drop-for-another-18-months\/","url_meta":{"origin":3213,"position":5},"title":"Experts forecast that Dubai house prices will drop for another 18 months","date":"July 25, 2016","format":false,"excerpt":"\r Apartment prices in Dubai will continue to drop further in the next 12 to 18 months because of weak demand from institutional buyers and occupiers, the research firm Phidar Advisory said.Apartment prices in Dubai declined a further 3.7 per cent in the second quarter of this year, and villa\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\/3213"}],"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=3213"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/3213\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=3213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=3213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=3213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}