Rise in first six months of year was not matched by similar increase in house prices
Land prices in Dubai freehold zones rose by 13% in the first six months of 2017, according to data from Reidin-GCP.
The data show an uptick in prices despite property values in the same areas making only small gains or even losses.
The rising land prices could encourage investors to sell plots instead of developing property on their own, according to a report by Gulf News.
While “land transactions have been steadily rising since 2016, prices only began to appreciate since the start of this year,” the Reidin-GCP report said.
“We expect land transactional activity to continue to gather momentum as the World Expo approaches, consequently pushing prices higher.”