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| The average house price for apartments and villas rose 6.5 per cent month-on-month in June to Dh1,285 ($349.9) per square foot |
Indications for Dubai property prices and rents are quite positive for June, signaling that the worst for the real estate sector may be over, Deutsche Bank said. The latest report on the Dubai market follows immediately after one senior analyst described it as one of the "riskiest" property markets.
The average house price for apartments and villas rose 6.5 per cent month-on-month in June to Dh1,285 ($349.9) per square foot, while rents rose 1.1 percent over the same period following a 10 per cent fall, Deutsche Bank said in its proprietary price index, which covers 13 locations in Dubai.
Saud Masud, analyst at Swiss investment UBS, said problems of over-supply and population shrinkage with thousands of jobless expatriates expected to return home when the schools break up next week, would mean continued pressure on house prices.
