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Athanasios Tsetsonis - Sector Economist
Published Date: 26 July 2017
Looking at the areas included in Phidar Advisory’s 9/5 Index, overall transaction volumes have fallen by -17.4% y/y in H1 2017, mainly driven by the significantly lower transaction volumes on villas. With most of the activity in the high-range (or premium) segment for apartments and the standard segment for villas, affordability is still a constraint but there is demand for residential properties at the lower priced end of the market.
Rents in the Dubai 9/5 Index areas have declined at a slower pace on an annual basis in June, more or less aligned with the annual fall in sales prices. Apartment and villa rents were down in June by -8.0% and -7.9% y/y, respectively. Yields on apartments remained unchanged in June at 7.3% averaging 7.4% in H1 2017 compared with 7.8% in H1 2016. Similarly, yields on villas also remained unchanged in June at 4.9% averaging 4.8% in both H1 2017 and H1 2016.
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