Dubai property prices to recover in 2021 as new unit deliveries begin to decline – The National

Dubai property prices to recover in 2021 as new unit deliveries begin to decline – The National

Dubai property prices to recover in 2021 as new unit deliveries begin to decline. The rate of decline in Dubai's property prices slowed considerably in the second half of 2019, Property Finder says. The rate of decline in Dubai's property prices is expected to stabilise this year before recovering in 2021, when the delivery of new units begins to slow down, according to a new report.. Asking prices of Dubai villas declined at a rate of 3.2 per cent, down from a rate of 4.3 per cent in the first half 2019.. Apartments fared better in Dubai, with prices falling just 1.1 per cent, down from 3.9 per cent in the first six months of 2019, according to the report.. Prices in Jumeirah Village Triangle and Motor City were down 4.6 per cent and 4.5 per cent respectively, the report found.. Advertised rents for Dubai apartments fell by 2.4 per cent in the second half of 2019, the report said.. The rent decline in apartments was pronounced in areas that recorded a high number of new unit deliveries such as Jumeirah Village Triangle (13.8 per cent), Town Square (10.8 per cent) and Dubai Sports City (10 per cent).. Based on