Dubai-Mubasher: Dubai’s residential sales prices remained unchanged during the second quarter of 2016.
“The off-plan residential market remains buoyant with the launch of over 4,000 new units (villas and apartments) spread across 20 projects,” according to a report by Abu Dhabi Islamic Bank (ADIB) and its subsidiary MPM Properties.
Around 70% of new units were in the price range of AED 850 -1,100 per sq.ft., the report said, adding that developers are continuing to offer incentives, including post-handover payment plans to keep "healthy" absorption rates.
Demand for off-plan sales from reputed developers showed that buyers are still cautious.
The prime office market saw “no major changes” in Q2-16 when compared to the previous quarter. However, ageing properties saw a marginal decline with the lower benchmark level falling to AED 90 per sq.ft as compared to AED 100 per sq.ft.
