Observer Q1 2016
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Report Highlights<br />
The Chestertons MENA OBSERVER | <strong>Q1</strong> <strong>2016</strong><br />
Prices: Villa segment witnessed a 1% decline in sales prices, whereas the apartments<br />
recorded a mere 0.7% decline<br />
Rental: The first quarter of the year witnessed a relatively flat market in terms of<br />
rental movements across the city. Some location such as silicon oasis recorded<br />
increase in rentals<br />
Yields: With a relatively flat quarter, the rental yields have not witnessed a major<br />
movement. Secondary locations continue to enjoy higher yields<br />
Transactions: <strong>Q1</strong> <strong>2016</strong> recorded transactions worth AED 27 Billion, up by 11% from<br />
the previous quarter. Mortgage jumped by more than 50%, while sales transactions<br />
declined by approximately 19%<br />
Outlook: We expect the market to remain sluggish during Q2 <strong>2016</strong> due to<br />
combination of factors including lower oil prices, dollar appreciation and economic<br />
uncertainties.<br />
Residential Market Movement – <strong>Q1</strong> <strong>2016</strong><br />
Price Change Rental Change Transactions<br />
-0.7%<br />
Apartments<br />
-0.5%<br />
Apartments<br />
-20%<br />
Sales<br />
-1.1%<br />
Villas<br />
-0.3%<br />
Villas<br />
50%<br />
Mortgage<br />
Key Numbers<br />
AED 27.6 Billion<br />
Value of Total Transactions<br />
AED 1,221 / sq.ft.<br />
Average sale price of residential unit<br />
461,000<br />
Total number of housing units<br />
D U B A I R E S I D E N T I A L<br />
01
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