Dubai house prices dropped in April

The average annual house price in Dubai decreased by 13.2% in April 2018, with some communities registering even steeper price declines, a Property Monitor report has found. According to data from the UAE-based real estate intelligence platform, which is owned by Cavendish Maxwell, communities such as Emirates Living, Dubai Silicon Oasis, Jumeirah Lakes Towers and IMPZ saw price declines of more than 14% on average. Month-to-month, the price decline for April was 1.5%, compared to 1.7% in March, the Dubai House Price Index for April found. House prices in the three months leading up to March were 4.9% lower than in the previous quarter, it added.