This is the high time for home buyers to get their dream apartment in Dubai.
The last four years have shown a drop of 19% in the prices of Dubai apartments. So, the prices have gone down by around 0.5 million AED.
In the April month of 2019, the selling price of a regular Dubai apartment reduced down to affordable 1.7 million AED.
This is a huge drop of around 400000 AED when you compare with the prices of apartments during September 2015.
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The price drop is visible in all property types
Along with the apartments, the market has become affordable for villa as well as townhouse buyers. The same time period of 4 years has reduced the townhouse and villa prices by 20%. So, a villa valued at 5.6 million AED is now available at 2.5 million AED or less. This is a great time for home buyers to select their favorite properties and invest.
Even the price drop between March 2019 and April 2019 was an impressive value of 1.5%.
Locations and communities with higher price declines
The price decline of properties is higher in certain locations and communities of Dubai. The locations such as Emirates Living, Dubai Silicon Oasis, Jumeirah Lakes, IMPZ and others are showing 14% or more decline in the prices.
Why Dubai properties?
Dubai has immense popularity among international property investors. People from the United Kingdom, India, Pakistan, and nearby Gulf countries invest in the lifestyle of this city.
The latest information from the Land Department of Dubai says that the investor interest is still high. The average transaction in the real estate market of Dubai is about .9 billion AED in a week.
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Even in the presence of buyers, the market is expected to showcase a further decrease in the prices of apartments. More properties are getting developed and delivered, which tends to reduce selling prices.
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This holds a great opportunity for investors and buyers looking for cost-effective deals on the Dubai real estate market.
How about you leverage this opportunity and get your apartment in Dubai?