Dubai realty to remain buyers, tenants' market

Property prices and rentals in Dubai continued to decline in the first half of 2019 and this trend will continue in the second half as oversupply will keep the emirate a buyer-friendly market for a few more quarters - if not years. In the sales market, prices for both apartments and villas witnessed a decrease of 4 per cent in the last quarter. In the rental sector, there was a more marked weakening compared to the previous period, with average apartment rates declining by 5 per cent and villas by 8 per cent quarter-on-quarter. As a result, many tenants have seen an increase in potential property options, latest research from real estate services firm Chestertons said on Wednesday. The emirate is projected to see delivery of 47,500 apartments, villas and townhouses in 2019, which is nearly double of what was delivered last year.