Trend: house prices fell 2.51% y-o-y in Q2 2017
This was the tenth consecutive quarter of y-o-y house price falls. House prices fell slightly by 0.06% during the latest quarter.
Dubai's property market has been one of the world's most volatile. Dubai saw one of the world's worst housing crashes from Q3 2008 to Q3 2011 with house prices plunging by 53%.
Analysis: Demand is rising strongly again. During the first half of 2017, the value of real estate transactions rose by 16.8% y-o-y to US$35.9 billion while the number of transactions increased 26% to 35,571, according to the Dubai Land Department.
UAE's economic growth slowed to 2.7% in 2016, after GDP growth of 3.8% in 2015, 3.1% in 2014, 4.7% in 2013, 7.1% in 2012 according to the IMF.
Rents, rental yields: good yields in Dubai at 5.19%
Dubai apartments are costly at around $5,918 per sq. m.
|UAE: city centre apartment, buying price, monthly rent (120 sq.m.)|
|Buying price||Rent per month||Yield|
Recent news. Abu Dhabi is projected to expand by just 1.8% this year while Dubai will grow by 3.1%. For the country as a whole, UAE is expected to see a GDP growth of between 1.5% and 2.2% this year, due to weaker-than-expected oil prices and OPEC-led production cuts.