COVID-19 impact: Property sales in Dubai drops by about 50% – ZAWYA

COVID-19 impact: Property sales in Dubai drops by about 50% – ZAWYA

Rate of decline in real estate market values accelerates in April. The decline in real estate values in Dubai accelerated in April while sales of apartments and villas dropped by about 50 percent due to the coronavirus pandemic.. Compared to last year, the capital values as of last month were down 10.8 percent.. The property market has been showing signs of weakness since the start of the coronavirus pandemic due to worldwide lockdowns and mobility restrictions.. Property Finder, in its late April 2020 report, noted that the number of rental real estate listings went up by 6 percent and 5 percent for sales..