Reidin, the leading real estate information company focusing on emerging markets, released its June property price index for Dubai.
As per the previous months, prices seem to have stabilized. Indeed compared to last year, sales prices are marginally down (-0.72%). When looking at June, prices have actually plateaued (+0.04%). On the other hand, rents are still down 4.95% year on year which is a continuation of the current trend we are experiencing since early 2017.
As a result, rental yield for Dubai has also come down in June to 7.1% on average.
Being in the middle of the summer, the market is still moving at a slower pace than usual and investors are observing to see where the next trend will go.
With Cityscape Dubai looming and the market coming back to a normal rhythm, we are anticipating a busy end to Q3 and an even busier Q4.
Every year developers come with exceptional offers during the 3 day real estate convention and also announce upcoming projects.
Cityscape will take place between 11th and 13th September in Dubai's Trade Centre.
Engel & Völkers will have a stand in the convention located next to Nakheel's pavilion and we are looking forward to welcoming you there.