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Where Dubai property prices have dropped the most in Q1 2019

09.04.2019

A recent report from Bayut revealed the figures for real estate prices decline in different Dubai areas. Read more for where prices have decreased the most in the first months of the year.

In most areas of Dubai, Q1 2019 has brought a moderate prices decline in residential real estate sales segment, amounting to the average of less than six percent, with the exception for Business Bay and Jumeirah Beach Residence (JBR).

The maximum decline in prices for apartments in the first quarter of 2019 was recorded in the Business Bay, while prices for apartments in JBR declined by an average of 6.7 per cent over the same period, according to the Bayut report published last week.

As for villa sales, Damac Hills residential community saw the largest decline in prices across Dubai. Prices here have dropped to AED2.6 million ($707,800) from AED2.88 million ($784,100) on average, while the maximum decline in villa sales prices — by 9.7 per cent — was recorded for large 4 bedroom units. This may be due to handover of more housing units with smaller square footage in above areas, which created a greater choice of villas for purchase than it was in the fourth quarter of 2018.

Bayut data also showed that Dubai Marina remained the most popular area for buying apartments in Dubai in the first quarter of 2019, mainly due to the prestige of the location, as well as due to the fact that premium apartments here provide a solid 6.4 per cent return on investments.

And the first place in villas sales rating in this quarter was taken by Arabian Ranches area with 5.8 per cent of regular return on investments (ROI). According to the report, the Al Reem cluster in the above community attracted the strongest demand from the potential investors in the first months of 2019.

However, residential property prices decrease wasn’t recorded all over Dubai. Some areas with affordable property offers, such as International City and Dubai Sports City, on the contrary, saw a sharp increase in apartment prices, especially for the most searched property type, the 2-bedroom apartment option.

Prices for the above units in the International City increased from AED690,000 ($187,852) to AED700,000 ($190,575) on average in the first quarter of 2019, while average price for two-bedroom apartments in Dubai Sports City has jumped from AED875,000 ($232,218) to AED900,000 ($245,000). Interestingly, both areas can also boast the highest recorded investment return in the first quarter of 2019 for apartments. The average return on investment in the International City reaches an impressive 9.7 per cent, while apartments in Dubai Sports City provide an average ROI of about 7.9 per cent.

To purchase apartments in the mentioned and other areas of Dubai turn to IMEX Real Estate, a reliable intermediary with more than 10 years of experience at the UAE’s property market. Our contacts:

Tel. in Dubai, UAE: +971(50)2528188 (Whatsapp, Viber, Telegram)
IMEX REAL ESTATE BROKER LLC
Office 2502, Marina Plaza, Dubai Marina, Dubai, UAE
Email: pm@IMEXre.com
Skype: resident69

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