REAL ESTATE PRICE TRENDS IN DUBAI

As the property sector come up to the end of a main improvement with a lot of options and affordable prices for investors and homeowners, property market in Dubai is more attractive than ever.

As one of the most successful and stable city in Middle East, Dubai is a lively place for leisure, entertainment, and business. Dubai is located in the UAE, and according to foreigner’s preference Dubai is ranked among the top 10 countries, attracted by high earning is possible, comfortable lifestyle and income is offered tax-free by the country

In the past, to grow wealth at an accelerated pace, it was suggested to invest in Dubai real estate. Dubai real estate sector has gone through a long correction with major reduce in prices for buying and renting of apartments and villas. Real estate consultancy Cavendish Maxwell has released a data which shows; in Mid 2020 the average apartment price was AED 1.5 million in Dubai, and it had decreased from AED 2.1 million in the peak time of 2015. Also, the villas that were available for AED 4 million in 2020, which have now dramatically increased to AED 5 million due to demand after COVID19 Lockdown.
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Property developers and experts anticipate that the recent trend will continue till the end of 2021. Medium-to-long term investors and homeowners should know that it is the best time to switch back attention to the property market in Dubai.