According to international real estate consultant Cluttons, values across Dubai's freehold residential areas slid by 8.8% in 2016, largely in line with Cluttons' original forecast for the year of -10%.
There is a change in ultra high net worth individuals (UHNWI) property investment patterns, driven by political uncertainty, cooling measures and barriers affect traditional markets.
According to international real estate consultancy Cluttons, the current 'wait and see' attitude that has been adopted by potential buyers in Abu Dhabi is a direct result of wider global economic trends.
The recent election of Donald Trump as the 45th president of the United States of America is set to cause further uncertainty for the Middle East's real estate market, at least in the short term.
Dubai's average residential property value is down 7.4% during the past twelve months, but rate of decline is expected to slow heading into 2017 before reaching a new base towards the end of next year.
Abu Dhabi's largest property developer announced this week that it has awarded the early works package, valued at AED 155 million ($42m USD), for its flagship golf and waterfront development
UAE property portal Bayut.com is reporting this week that affordability remained the center of discussions at the recently concluded Cityscape Global real estate exhibition in Dubai.
According to international real estate consultant Cluttons, Gulf Cooperation Council (GCC-based) high net worth individuals are set to continue investing in global real estate for the remainder of the year.
A recent decision by the Bahraini government to allow foreign investors 100% ownership in various sectors of the market is likely to have a positive long term impact.
Global real estate consultancy Cluttons has launched The Next Big Thing, an international competition which invites entrants from the UAE to outline a concept which will help to turn the world's 'slums' into legitimate, sanitary and productive communities.
Abu Dhabi's largest property developer - Aldar Properties - is reporting this week that work is progressing across all aspects of the development West Yas, Aldar's first villa community on Yas Island.
According to UAE property portal Bayut, moving further away from previous year's dormant second half, UAE's real estate market remained stable in the first quarter of 2016.
According real estate consultancy Cluttons, Dubai, Abu Dhabi and Sharjah have emerged as the region's most popular investment destinations amongst GCC High Net Worth Individuals.
Despite global economic volatility over the past year, investment appetite among UAE High Net Worth Individuals (HNWI) does not appear to be dented.
According to international real estate consultancy Cluttons, Sharjah's residential property market is starting to show signs of softening at the end of 2015.