UAE - Mubasher: Dubai's residential property prices decreased on average by 0.9% year-on-year (YoY) during the third quarter (Q3) of 2020.

Dubai saw a 6.9% YoY decline in its rents in Q3-20, according the quarterly review of the Central Bank of the UAE (CBUAE) citing recent data from the Dubai Land Department (DLD).

The rental yield in Dubai increased by 6.6% in the July-September period of 2020 from 6.3% in the previous quarter.

As for Abu Dhabi, the average price in the housing market went up by 0.9% quarter-on-quarter (QoQ) in Q3-20.

"Although prices showed quarterly improvement, this was not enough to offset the negative momentum in earlier quarters, leading to an annual decline by 5.5%," the CBUAE's report referred.

Abu Dhabi saw a 3.9% YoY decline in its rents during the third quarter (Q3) of 2020, following a 4.9% drop in the previous quarter.

The decrease in rents by 0.4% QoQ resulted in a lower rental yield to 7% in Q3-20, compared to 7.1% in the second quarter.