Dubai home prices ‘to fall’

Dubai home prices are set for another year of decline with supply outstripping demand even as developers delay the completion of properties, according to real estate adviser CBRE.

“We expect to see a slight decline in values, which is in line with the drop in 2016,” said Nick Maclean, CBRE’s managing director for the Middle East.

CBRE estimated apartment prices fell 4.6% on average last year, while single-family homes slid 6.5%. Rents also dropped about 4%.