Residential Mar­ket Over­view

Ekaruna - - State Of The Market -

SUM­MARY

Data from the Dubai Land Depart­ment re­vealed that the num­ber of residential real es­tate trans­ac­tions dropped 30% in 2014 and that the value of residential prop­erty trans­ac­tions fell by 14%. In ad­di­tion, The REI­DIN sales in­dex showed a de­cline in residential price growth lev­els from 23% in 2013 to 20% in 2014.

OUT­LOOK

The residential mar­ket is likely to re­main pas­sive over the com­ing months as the mar­ket is ex­pected to ab­sorb 25,000 ad­di­tional units in 2015 mak­ing fu­ture residential sup­ply for 2015 equate 6.6% of ex­ist­ing stock. Prime residential prices and rents are ex­pected to con­tract in 2015; prices are ex­pected to fall by 5% – 10% and rents to de­cline by 5%.

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