Browse
related articles
There has also a lower rate of rental decline than before, with the average rent for two bedroom apartments falling by 15% in Q2, compared with a 22% decline in Q1/2009
New residential supply continues, with 22,400 residential units expected to be handed over in 2009, in spite of over $24bn worth of residential projects being put on hold or cancelled.
On the demand front, transactional volume remained stable between Q1 2009 and Q2 2009 in comparison to the 58% decrease between Q2 2008 and Q2 2009.
Craig Plumb, Head of Research at Jones Lang LaSalle MENA added:
"The stabilisation of transactional volumes is an important indicator, which reflects improved confidence among investors. The narrowing gap between asking prices and achieved prices is a further indication that the market is beginning to stabilise, albeit at significantly lower levels of pricing than those seen earlier in the year."
"While there have been a large number of projects delayed or cancelled, there remains a significant level of new supply, with around 22,400 residential units expected to be completed across Dubai in 2009."
Digg
Facebook
LinkedIn
Twitter
Posted by Nadeen El Ajou
It looks like you are using a Mac - check out our 
Web Feeds