Deloitte: Dubai residential real estate will be stable in 2015

Home sales volume will slow, but home prices will remain relatively stable this year in Dubai, falling 1% to 5%, according to a report published by Deloitte, the global accounting and consulting firm.

There were 12,515 residential sales transactions in Dubai in 2014, down 28 percent from 2013 (17,493) but consistent with the average over the past four years.

"Affordability will become increasingly important for purchasers and the government alike," the report says, adding that Russian demand, now on the wane, had driven prices to record-highs.

Deloitte expects strong sales demand in Dubai's less-pricey International City and Sports City communities, still driven by overseas investors. It also expects to see more pre-sales offered by established developers and "creative delivery vehicles" for lesser-known ones, including buyer incentives and payment plans.