Covid: Dubai house prices to drop at slower pace
Reuters/Dubai
(Dubai Media Office file)
The risk was low that a resurgence in Covid-19 would derail the housing market.
Dubai s house prices are expected to fall at a slower pace this year and next than previously thought as hopes for a successful vaccine rollout and an economic recovery boost confidence in the sector, a Reuters poll showed.
After declining 3.5 per cent in the first quarter of 2020, Dubai property prices have shown signs of stabilising. They fell by a much slower 0.9 per cent year-on-year in the third quarter after barely changing in second quarter, United Arab Emirates central bank data found.