Those considering real estate/property investments in Dubai should consider the current time period which is favourable as per market experts. Prime properties are now priced more affordably in Dubai and have continued their downward spiral for Q3 2018 as well. Prices have come down by roughly 3.8% in Dubai for properties in the third quarter of the year. They have come down overall by 4.2% over the last 6 months and 2.6% on a quarterly basis. Prime property rates have seen their second highest drop in Dubai if locations across the Middle East are taken into account. Experts stated that this is a fluctuation and not really a decline since investor interest continues to be strong in the Emirate.
Rather, this new development gives an opportunity to several investors and end users to purchase prime properties in Dubai at lower prices. With the 2020 Dubai Expo on the anvil and the resurgence of the hospitality, tourism and construction segments, prices could rise swiftly again in the future. As a result, with this fluctuation in prices across prime locations, buyers should relish the opportunity of lower home acquisition costs. The fourth quarter is expected to have stable prices until the end of the year.
Prices may start increasing again from the first quarter of 2019 as per experts. Around 10, 000 more housing units should be delivered by the end of 2018 in Dubai while another 70, 000 will be delivered prior to the 2020 Expo. Sales prices have come down for both villas and apartments by approximately 6%.
