(MENAFN) According to a report by MPM Properties, the real estate consultancy arm of Abu Dhabi Islamic Bank (ADIB), property sales prices in Dubai registered an increase by 15 percent during 2014 as a whole, while the prices increased by only 4 percent during the October-December period of the year, Khaleej Times reported.
The increase in the property sales is largely attributed to the more than 50 projects that were launched in the emirate during 2014, with expectations that these projects delivered over 13.000 units to the market, as well as the mega projects developed by major private developers, including GiGico, Damac and Danube.
The MPM report also indicated that the average transaction values of houses and apartments declined in 2014, with prices reaching USD345.30 thousand for a studio apartment, while prices began at USD796.84 thousand for townhouses, while in the commercial market, offices prices increased by 14 per cent, with the report showing that 700.000 square meters of new office space will enter the market by the end of 2015.
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