Dubai – Mubasher: Real estate prices in the UAE dropped in the second and third quarters of 2017, according to a report released by Propertyfinder.
The increase in prices is not necessarily in the favor of the real estate market, as the decline in property prices encourages renters to become buyers, said Propertyfinder’s CEO Michael Lahyani.
Villa rents in Dubai are declined, but this decline is not as high in other categories, compared to reports in January 2016, the report found.
“The Abu Dhabi rental market has seen the swiftest decrease, while the Abu Dhabi villa market was relatively stable over 2016, but has seen a step-down in 2017 so far,” Propertyfinder revealed.
