JLL: Dubai residential property rents bottoming out in 1Q16
In its 1Q16 review of Dubai’s real estate markets, JLL noted that residential property rents are bottoming out. In 1Q15, rents had been falling. Total residential supply increased from 448,000 units in 2014 to 456,000 units in 2015 to 458,000 units in 1Q16. Additional supply is expected to amount to 27,000 units through the remainder of this year, with another 23,000 units in 2017 and 8,000 units in 2018. Hot topics for the residential market include the increased interest amongst developers in the affordable sector of the residential market. Elsewhere, there has been strong demand for the residential component of the Al Habtoor City project.
Source : JLL/Mar 2016/Dubai/RES