Dubai real estate activity fell sharply in Q2, although June figures point to a recovery in sales transactions
- Apartment and villa sales prices down 2.6% and 1.2% respectively in Q2, says Chestertons
- Rental rates Q-on-Q declined 3.9% and 2.6% for apartments and villas, respectively
- Prices to face further declines in the second half of 2020, a result of a subdued economy and a likely fall in the expatriate population
Dubai, United Arab Emirates, 15 July 2020: Dubai’s residential sector faced a challenging second quarter of 2020, with social distancing measures, coupled with Covid-19’s economic impact, affecting market performance. However, with encouraging transaction figures in June, a move towards more typical sales volume is expected in Q3, according to the latest Observer: Dubai Residential Report Q2 2020 from Chestertons.
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