Dubai residential sales gain pace over Q3, although remain down year-on-year, says Chestertons

SourceBusiness Live ME
SectorReal Estate
CountryUAE Top Picks

Dubai residential sales gain pace over Q3, although remain down year-on-year, says Chestertons Despite a clear quarterly rise in property sales during Q3, Dubai’s real estate market is expected to face further challenges in both the rental and sales market, according to the latest Observer: Dubai Residential Report Q3 2020 from Chestertons. Research released by the leading international real estate services firm highlighted that increased sales activity in the third quarter, which rose by 50% Q-on-Q, was largely attributed to pent up demand from Q2, along with developer promotions offered to clear built but unsold inventory. Total transaction volume was down 21.7% from Q3 2019. Apartment prices fell 3.4% Q-on-Q, an increased rate of decline from the previous quarter, while villa sales prices witnessed a marginal fall of just 0.2%. In ...read more...