{"id":40661,"date":"2017-01-15T00:25:00","date_gmt":"2017-01-14T17:25:00","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=40661"},"modified":"2017-01-14T21:38:19","modified_gmt":"2017-01-14T14:38:19","slug":"dubai-real-estate-had-a-sluggish-year-of-fewer-trades-and-turnover","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-real-estate-had-a-sluggish-year-of-fewer-trades-and-turnover\/","title":{"rendered":"Dubai real estate had a sluggish year of fewer trades and turnover"},"content":{"rendered":"


\nDubai’s real estate sector witnessed a slowdown last year as fewer transactions took place during a year of sluggish property prices. Figures from Dubai Land Department on Saturday showed that overall transaction value in the city fell by nearly 3 per cent, to Dh259 billion from Dh267bn in 2015, even as the number of transactions fell to 60,595 last year compared with 63,719 deals a year earlier.A report from the property consultants Cavendish Maxwell last week showed that transaction volumes for sales in Dubai dropped by 19 per cent year-on-year, citing 14,500 deals between January and mid-Dec\u00adember. Average apartment prices dropped by 3.4 per cent year-on-year and villas fell by 3.6 per cent but the rate of decline slowed towards the end of the year. But brokers are confident that sales are about to pick up following two years of declines. DLD’s report showed that land sales and mortgage transactions were valued at Dh193bn from 15,994 transactions, a level similar to last year’s Dh194bn, but from 16,751 transactions.Dubai’s real estate sector attracted 22,834 investors from 136 countries, who poured in close to Dh44bn. Indians ranked the highest in terms of volume and value – 6,263 investors bought Dh12bn worth of property. Buyers from the UK funnelled in Dh5.8bn and Pakistani nationals contributed Dh4.4bn. GCC investors, meanwhile, contributed Dh35bn.In terms of the most popular areas for investment, Business Bay area benefited from a high level of interest – 3,508 investments worth Dh6.2bn – followed by Dubai Marina, Jebel Ali 1, Burj Khalifa and Warsan 1. Sultan Butti bin Merjen, the director general of DLD, said that Dubai’s real estate market was moving towards sustainable growth and that the market will “gain further momentum in 2017, signalling an upward trend for sustained growth in the run-up to Expo 2020”. The report also showed that that the number of brokers had increased to 5,933 during the past year and that 2,285 brokerages were active in 2016.business@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Dubai real estate had a sluggish year of fewer trades and turnover<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai’s real estate sector witnessed a slowdown last year as fewer transactions took place during...<\/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-40661","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-azP","jetpack-related-posts":[{"id":20198,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-dubai-property-deals-over-first-six-months-but-total-value-lower\/","url_meta":{"origin":40661,"position":0},"title":"More Dubai property deals over first six months – but total value lower","date":"July 19, 2016","format":false,"excerpt":"\r The value of property deals transacted in Dubai in the first six months of the year fell despite a rise in the number of transactions.According to figures from the Dubai Land Department published on Tuesday, the total value of real estate transactions in Dubai fell 12.4 per cent to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1266,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/many-new-dubai-homes-wont-be-delivered-on-time-in-2016-jll-says\/","url_meta":{"origin":40661,"position":1},"title":"Many new Dubai homes won’t be delivered on time in 2016, JLL says","date":"January 12, 2016","format":false,"excerpt":"\r \r The number of residential properties completed in Dubai last year was just 7,800 \u2014 considerably below the 25,000 units that had been forecasted by developers at the start of 2015, says JLL.The property consultancy said in its annual UAE real estate market review that materialisation rates \u2014 ie\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42217,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-mortgage-market-doubles-in-size-over-seven-year-period\/","url_meta":{"origin":40661,"position":2},"title":"Dubai mortgage market doubles in size over seven-year period","date":"January 30, 2017","format":false,"excerpt":"\r The number of homes changing hands in Dubai may be slipping, but the mortgage market is in rude health, having doubled in size over the past seven years, according to a report released yesterday.The Reidin\/Global Capital Partners report states that mortgages as a percentage of sales activity have now\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51504,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jump-in-dubai-home-sales-a-false-start-says-expert\/","url_meta":{"origin":40661,"position":3},"title":"Jump in Dubai home sales a 'false start', says expert","date":"April 11, 2017","format":false,"excerpt":"\r The Dubai property market may be experiencing a \"false start\" according to one real estate \u00adconsultancy. An increase in sales volumes in the first quarter and slowing price declines should not be misconstrued as evidence of a market recovery, said Phidar \u00adAdvisory. \"The market is undergoing a false start\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19280,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-dubai-home-prices-and-rents-continue-falling\/","url_meta":{"origin":40661,"position":4},"title":"Abu Dhabi, Dubai home prices and rents continue falling","date":"July 11, 2016","format":false,"excerpt":"\r Villa and apartment prices in Dubai and Abu Dhabi fell between 4 per cent and 6 per cent during the second quarter compared to the same period last year as the economy slows amid softening oil prices, according to the property consultants Cavendish Maxwell. Home prices, however, are expected\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1078,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/has-the-fall-in-dubai-property-prices-come-to-an-end\/","url_meta":{"origin":40661,"position":5},"title":"Has the fall in Dubai property prices come to an end?","date":"January 9, 2016","format":false,"excerpt":"\r \r Dubai\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\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\/40661"}],"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=40661"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/40661\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=40661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=40661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=40661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}