Real estate firm Core Savills also forecasts 7% decrease in values of apartments in UAE capital this year
Prime and mid-prime villa values in Abu Dhabi are anticipated to fall by at least 15 percent this year while apartment prices are set to drop by 7 percent, according to a new report.
Real estate firm Core Savills said the 2017 drop in values would be close to 2016 levels as similar market conditions persist.
Its latest market outlook for 2017 also forecast that mid-market communities, particularly buildings with smaller units, are predicted to maintain relative sale and rental price resilience and stay flat.
The report said the reinstatement of the 5 percent rental cap has been received with mixed reviews as some tenants are apprehensive that landlords may interpret this law as an...Read more...