Dubai residential sales gain pace over Q3, although remain down year-on-year, says Chestertons
- Date: 14-Oct-2020
- Source: Business Live ME
- Sector:Real Estate
- Country:uae-top-picks
Dubai residential sales gain pace over Q3, although remain down year-on-year, says Chestertons
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