Reidin, the leading real estate information company focusing on emerging markets, released its October residential market overview for Dubai.
Once again no big surprises: sales prices are still following the same downwards trend with the month being 0.65% down versus September.
Rental yield remains the same as Dubai owners can still achieve on average 7% gross rental return.
2018 promises to be a key year as the market expects around 30,000 new units to be delivered across the Emirate. This will for sure have an impact on existing communities and it will be interesting to see how landlords and tenants will adapt to it.
The focus will be on Mohammed Bin Rashid City as a fair chunk of those units will be located there. The likes of Dubai Hills and Sobha Harltand will see their apartments projects being delivered in waves throughout the year. Also Town Square from Nshama will have the first phases of apartments released early 2018 whilst some of the townhouses have already been acquired by their owners in the last couple of months.
Downtown will also have a few projects coming up with the highly anticipated Burj Vista, Boulevard Heights and Boulevard Crescent.
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