Dubai property steady for third consecutive quarter

18/10/2011 - Dubai Property News Posted by Neil King
Dubai property steady for third consecutive quarter

Property investors looking for new opportunities in the Middle East could be among those encouraged by the findings of a recent report.According to the latest research from Asteco Property Management, the market for quality units in Dubai remained steady for a third consecutive quarter in the three months to October.The report showed that buildings in "established locations" were among the top performers.Sales and rent prices for villas were stable, while apartments saw sales and rents decline by only one and four per cent respectively.At the same time, the office market saw a decline of just three per cent.Elaine Jones, chief executive officer of Asteco Property Management, commented: "In actual fact this is the third consecutive quarter that quality buildings in established locations have experienced steady sales prices and rental rates."The news comes after the latest data compiled by REIDIN.com revealed that the value of residential real estate in Dubai is on the rise, with values for villas and apartments increasing by 1.48 per cent between August and September this year.