Price boom in UAE’s property markets begun to ease
After a euphoric 2013, the price boom in Dubai and Abu Dhabi’s property markets may have begun to ease. While house values saw stellar gains last year, 2014 seems to have brought along a decrease in growth percentages – despite a continued increase in sale prices and rents, Khaleej Times reported. Alongside housing prices, the rate of growth is a key factor in assessing market sustainability and is a reliable indicator of long-term trends. If we look at Dubai in Q2 2013, the median advertised house price per square feet on propertyfinder.ae was Dhs1,400. By Q4, the figure had risen to Dhs1,565. However, between Q1 and Q2 this year, prices have stabilised and the growth rate has slowed down. In Abu Dhabi, we see a similar trend play out. In Q2 2013, the median per square feet price was Dhs1,100. In Q2 this year, the price stood at Dhs1,400.