Prime Apartments in Dubai Show Noticeable Growth
Prime properties in the prestigious Burj Dubai Downtown area have shown the strongest signs of growth across Dubai with an 8% rate of growth, quarter-on-quarter. This means that prices are up from an average of 1200 Dhs per sq ft in Q2 to 1300 Dhs per sq ft in Q3 in the Burj Dubai area.
It is no surprise that this location is one of the very few to benefit from growth across the reviving Emirate. The successful launch of the world’s largest shopping mall and also the world’s largest dancing fountain are attracting much interest. The world’s tallest building will also be launched officially before year end, adding yet more global and regional interest in the project.
Rentals have remained pretty flat across the majority of property in Dubai, including the Burj Dubai Downtown area. Integrated community projects will also be the winners in a property market like Dubai where schools, healthcare facilities, (EMAAR Healthcare has recently opened operations in the Dubai Mall), retail outlets, restaurants and transport hubs are a must. The Burj Dubai Downtown area ticks all of these boxes and will no doubt be a key area for investment, both now and in the future.
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