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Dubai property prices are down by one-third in the past five years

Capital values and rents in Dubai are forecast to continue to soften this year but at a slower rate, according to research by ValuStrat. The consultancy said in a new report that the city will see increasingly affordable rents in 2020, particularly for townhouses and small villas. It added that rentals and capital values for prime office space located in Dubai International Financial Centre (DIFC) and Downtown Dubai will likely remain stable in 2020, bucking the trend of lower rents at secondary locations in the city.

The forecast was part of ValuStrat's latest research which showed that property prices in Dubai were down 10.7% on average on an annual basis in the fourth quarter of 2019. ValuStrat said this downward trend resulted in a 33.3% citywide capital value loss since the peaks of mid-2014.

However, Dubai registered a total of 41,988 real estate sales transactions in 2019, up 20% compared to 2018, according to research from Data Finder, the real estate insights and data platform under the Property Finder Group. The firm said that the 2019 figure represents the highest number of deals registered annually in Dubai since 2008.

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