The average cost of an apartment in Dubai increased 12 percent in the first three months of the year as demand for real estate in the emirate increased in prime locations, according to a new report.
Average apartment prices rose 27 percent year-on-year compared to 21 percent for villas, Asteco said in its quarterly report.
“The overall outlook is positive with demand and rates expected to continue to grow. However, this will also mean that some tenants and buyers will be priced out of certain buildings or communities,” John Stevens, managing director of Asteco said.
Read more: http://www.arabianbusiness.com/dubai-apartment-prices-up-12-in-q1-report-496414.html
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