Dubai’s Property Market Is Most Definitely On The Turn
We hate to say it, but word has it the time to buy in Dubai was a couple of months back.
Speaking to the National, Dubai broker Core Savills said that although prices in some communities are still falling, prices in more popular areas are back on the rise.
Areas such as Dubai Marina, The Springs, Arabian Ranches
These are the spots that are once again seeing an increase in purchase price. So although prices in some communities are falling as there are still plenty of units avail for sale, that does not mean the entire property market is on the decline. Areas have highs and lows at different paces.
‘You have to look area by area, and I think the good areas have already bottomed.”
Dubai broker Core Savills, speaking to the National
It’s a buyers market…
A report from research Global Capital Partners compared the last market crash with the dip the property market is experiencing now. While previously ‘prices fell faster and sharper’, the market movement is a lot more gradual this time. With less high highs or low lows. It’s safer.
If you’re looking for a two bed apartment, here’s what a standard 2 bed will cost you in some popular areas
(See Dubizzle for more info)
1. 2 Bedroom Apartment at Centurion Residences in Dubai Investment Park – AED 1,073,163
2. 2 Bedroom Apartment at Sulafa Tower, Dubai Marina – AED 2,000,000
3. Canal Residence European living 2 Bed – AED 1,645,00
4. 2 Bedroom in Business Bay with Burj Khalifa View – AED 1,888,000
