Fewer Launches, Handovers Slowdown To Cushion Property Prices

Fewer Launches, Handovers Slowdown To Cushion Property Prices

Average sales prices declined in Abu Dhabi's major residential zones by 13.2% for apartments and 9.5% for villas/townhouses. Median apartment prices in Dubai declined 12% over the 12-month period from Q1 2019 to Q1 2020 whilst villa/townhouse prices declined 4%, outperforming apartments.. Median apartment rents declined 14% whilst villa/townhouse rents were lower by 10% over the 12-month period from Q1 2019 to Q1 2020.. Villa/townhouse prices registered a slightly lower decline of 9.5% over the same period.. Rents in Abu Dhabi registered declines in Q1 2020 for both apartments and villas/townhouses the latter sharply outperformed apartments.. In the Northern Emirates, the market stabilised slightly but continued to register low rents and rates.. Over 6,200 apartments and over 800 villas/townhouses were handed over in Dubai during Q1 2020..