Dubai – Mubasher: The real estate sector in Dubai has witnessed more than 20,000 units entering the market during 2018, head of consulting at Chestertons MENA Ivana Vucinic said, according to TimeOut Dubai.

The new units have resulted in a softening trend across the sales and rental sectors for both apartments and villas in Dubai over 2019, Vucinic added.

“This is a trend we expect to continue throughout 2019 as the number of units estimated to be delivered is set to be even higher,” Vucinic said, according to TimeOut Dubai.

Chestertons showed in its latest study that rents and property prices have decreased the most during the first quarter of 2019, with the biggest quarterly changes were in Dubai Motor City, Dubai Silicon Oasis, Dubai Sports City and JLT, all of which experienced a 4% decline.

According to Chestertons’ “Dubai Market Report for the first quarter of 2019”, the real estate market showed that, in terms of villas, JVT had a 5% quarterly decrease, while Jumeirah Golf Estates, Jumeirah Islands, and The Lakes remained the same.

Several communities, including Dubai Marina and Business Bay, remained at the same price levels during Q1-19 when compared to the previous quarter.

Chestertons MENA noted that “As a result, we expect to see developers and landlords continue to offer a range of financial incentives and become increasingly innovative in their approach.”