The Dubai residential market is showing signs of stabilisation, Jones Lang Lasalle said today in a report.

According to the company’s latest quarterly analysis on Dubai, the decline in achieved prices has slowed to 6 per cent, compared to the first three months of the year, down to around Dh950 per square foot. This brings the total decline since the market was at its hight during the third quarter last year, to 37 per cent.

The report said asking prices had fallen more quickly, down 24 per cent to around Dh1,000 per square foot, from the first three months of the year, when buyers were demanding Dh1,300 a square foot.

The National