Survey: UAE Residents Expect Residential Property Prices to Fall 8 Percent

Survey: UAE Residents Expect Residential Property Prices to Fall 8 Percent

Published July 29th, 2020 - 10:00 GMT































Majority of the UAE residents (59 per cent) are expecting a 8 per cent fall in residential property prices and rentals in the second half, according to Peninsula Real Estate, an investment and research company.

Nearly 75 per cent of respondents who are renters in the UAE and had renegotiated their lease in the last 6 months say their rent fell, stated Peninsula Real Estate in its second edition of UAE and Mena Home Sentiment Survey - Q2 2020, which was conducted in partnership with Eltizam Asset Management group, CBRE, Cityscape and Berkshire Hathaway Home Services.

 

A third of these respondents reported that their rent had fallen by 10 per cent or more, it added.

 

The survey that was conducted over the first two weeks of July provides an important snapshot of sentiment towards real estate as many of the Covid-19 mitigation measures are being relaxed, based on a compilation of 2500 data points including home owners, renters and investors across the region.

 

Around 84 per cent of respondents who are renters expect to see their rent decline.

 

The survey brought out mixed results