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Dubai property market reaches ‘attractive levels of affordability’ in H1 2019

11.08.2019
A recent report from Bayut finds that tenants are continuously more interested in middle- priced areas for their home renting.

Dubai’s is getting an ‘attractive level of affordability' in the first half of 2019, a report by popular UAE’s real estate portal Bayut, has confirmed recently.

Speaking about rents, there has been a substantial shift in interest towards competitively priced areas in H1 of 2019 compared to the second year half of 2018, while historically more expensive developments, on their part, have become more affordable, the report said.

“As we move into H2 of 2019, house prices in the emirate continue to be attractive for both tenants and investors,” Bayut stated in its report. Price trends for the first half of the 2019 suggest that Dubai apartments have widely demonstrated the slightest decreases between 4% and 8% for both sales and renewals.

Dubai Marina remained the most popular Dubai area for apartments purchase, according to the report. However, prospective tenants turn to Al Nahda as the first choice for renting apartments in Dubai, with Dubai Marina coming a close second.

As the bigger part of other experts have already noticed, the report by Bauyt also added that buyer’s and tenant’s market now has created a situation, in which end users can easily capitalize on lucrative property deals.

Dubai Land Department official data recently revealed that real estate transactions in Dubai have increased by as much as 33% compared to the same period last year.

Such developments as Al Nahda, Mirdif, Bur Dubai and International City are the most popular among property tenants, while Palm JumeirahArabian Ranches, Dubai Marina and Downtown take the lead for sales. And as for rental returns, of International City was the most attractive for investors, with rental yields up to 9.7%, said the report.

High-end developments such as Dubai Marina and Downtown Dubai saw overall price declines over the 8%, offering buyers with cash an outstanding opportunity to grab their chance and get themselves a luxury property at really affordable rates.

For apartment rentals, the most significant price decreases have been registered for 1-bedroom units in Dubailand and 2-bedroom units in Dubai Sports City, with 9.1% and 8.1% decrease respectively.

For more information on the prices decline and increase in different districts of Dubai, as well as for overall market prospects and expert forecasts, follow the second part of this article in our next newsletter releases.

To always stay up to date with the latest analytics data and real estate prices in Dubai, subscribe to our newsletter using the form below. And in order to sell, lease or buy/ rent housing or commercial properties in Dubai, contact IMEX Real Estate. Our contacts:

Tel. in Dubai, UAE: +971 (50) 2528188 (Whatsapp, Viber, Telegram)

Toll Free Dubai: 800-IMEX (800-4639)

IMEX REAL ESTATE BROKER LLC, UAE

Office 2502, Marina Plaza, Dubai Marina, Dubai, UAE

Email: pm@IMEXre.com

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