Dubai real estate market is seeing further signs of bottoming out of prices, according to a recent report by ValuStrat. The ValuStrat Price Index (VPI) fell 1.1% Y-o-Y in June. It registered 98.0 index points in April and May and 97.9x in June. DLD transaction volumes for the VPI coverage areas witnessed quarterly increases of 14% for apartments and 7% for villas, while residential investment yields saw gains in 2Q as the median asking rents were 1.3% higher than 4Q15 and 2.8% higher than 1Q16. Nine off-plan residential projects were launched in 2Q, adding c2,500 units to the residential pipeline, to be delivered by 2020. (Arabian Business)
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