Sep
12
Dubai Property Set to Fall Further as Vacancies Climb
By-
Residential property declines due to job losses, lower income
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Reluctant sellers, renters starting to accept long downturn
Dubai residential property prices and rents are set to fall further as losses of high-paying jobs and dwindling household incomes boost vacancies across the city, according to Phidar Advisory.
“The false start of early 2017 is over and the cracks are starting to show,” Jesse Downs, managing director at Phidar, an advisory firm specializing in real estate, wrote in a report on Tuesday. “Sales volumes of completed properties are at a six-year low and vacancies are rising across the city.”…
Dubai Property Set to Fall Further as Vacancies Climb
