Total volume of Dubai residential transactions declined 23% q-o-q in Q2 of 2017, Invest-Gate reports.
The first quarter saw a positive momentum yet this was not translated into increased activity in the second quarter, according to Chestertons MENA.
The sales of off-plan properties fell by 28% in terms of volume and by as much as 43% in value. Transactions of completed units were also down by 17% in volume and 7% in value.
Apartment sales remained flat in Q2 compared to Q1, while villas’ sales rose by 3% q-o-q. However, rental rates for both villas and apartments slid 2% during the same period.
