84689
Sharp Decline in Dubai Real Estate Deals
Sharp Decline in Dubai Real Estate Deals

Sharp Decline in Dubai Real Estate Deals

Sharp Decline in Dubai Real Estate Deals

Dubai real estate transactions appeared to drop sharply in the first quarter of the year according to data released late Saturday, Reuters reported. The Dubai Land Department said that real estate transactions totaled 58 billion dirhams ($15.78 billion) for the three months to the end of March. While the DLD did not release comparative figures, the figure represents a 25% fall from the 77 billion dirhams of transactions recorded in the same period a year earlier, according to data released at the time. The number of transactions also fell to 13,759 from around 20,000 last year. Property prices in Dubai have been falling for the past three years as lower oil prices impacted economic growth, as the steady release of new residential developments has seen supply increase. Cavendish Maxwell, a real estate surveyor in Dubai, last week said that average residential property prices dropped 2% year-on-year during the three months to the end of March, with the drop in prices particularly pronounced in areas such as Jumeirah Islands, Jumeirah Beach Residence and Dubai Silicon Oasis.

 

Short URL : https://goo.gl/GXFusR
  1. https://goo.gl/GPfvFo
  • https://goo.gl/7pRCKd
  • https://goo.gl/hwiYUY
  • https://goo.gl/p4P2HP
  • https://goo.gl/RSR28c

You can also read ...

Crisis in Madagascar as Vanilla Price Soars
Vanilla is one of the world’s most popular seasonings and an...
Profits of Thai Banks Fall
Thailand’s top four banks produced aggregate net profit of 37....
World Debt Load $164 Trillion : Debt, Protectionism Biggest Threats to Global Growth
The biggest threats to global economic growth are government...
Argentina’s Treasury Minister Nicolas Dujovne (L), accompanied by Argentina’s Central Bank Governor Federico Sturzenegger speak at a news conference after the G20 meeting on Friday.
Finance leaders from the Group of 20 major economies agreed...
Vietnam Still Facing Structural Risks
Despite the generally favorable medium-term outlook, there are...
In Emerging, Developing Countries : ILO: Over 700 Million Workers Living in Poverty
There were more than 700 million workers living in poverty in...
Euroland Progress Linked to Global Growth, Open Trade
The eurozone’s economy needs strong global growth and open...
AT&T, Verizon Under Federal Investigation
The US has opened a probe into alleged coordination by AT&...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus