JLL: Dubai residential prices to fall by upto 10% by end of 2015
Jones Lang LaSalle IP Inc. noted in its Dubai Real Estate Market Overview for 1Q15 that apartment sales and rentals were, respectively, 7% and 9% higher y-o-y. For villas, the corresponding figures are 6% and 2%. In the recent past, though, sales and rentals of both apartments and villas have been flat. JLL notes that 22,000 new units are due to be made available through the remainder of 2015. Although some may not be completed on schedule, the additional supply could cause prices to drop by up to 10% by year end, says JLL.
Source : 31 March 2015/JLL/Dubai/RES