Dubai: renters seek to purchase property after prices decline
(MENAFN) A recent report showed that Dubai costs of property have dropped to an extent that renters are currently seeking to purchase properties, mainly villas.
Property prices constant decrease over the past six months has been an extension of the fall since the peak in mid-2014, as Propertyfinder Group suggested in its 130-page 'Trends' report.
Propertyfinder Group chief commercial officer Lukman Haile announced "in most parts of the LAE, property prices are now at early-2013 levels." The chief commercial officer also added that the decline in prices has been taking place bit by bit with, across nearly all communities and segments, low single-digit percentage point per quarter.
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