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Shady Elborno - Head of Macro Strategy
Published Date: 19 April 2021
The Dubai property market performed well in Q1 2021, with residential rents largely up, and villa sales prices showing their first yearly increase since 2014 when oil prices fell. Data from Asteco shows a broad ranged recovery across most segments of the residential market excluding studios and commercial properties. The stronger performing segments of the rental market are larger units within apartments, with townhouses and villas seeing the strongest rebounds. This has been driven by increased working and schooling from home, as well as greater affordability as mortgage loan-to-value caps have been increased.