Price of property in Dubai begins to stabilise according to report
A new report out this month has shown that the price of property in Dubai has begun to stabilise in recent months, with prices holding steady across the emirate throughout numerous major communities. The report went on to say that the price of apartments in Dubai dropped by approximately 6% from June to September as a result of increased supply in the emirate.
However, prices in districts such as Jumeirah Lake Towers and Discovery Gardens remained stable at around AED750 and AED500 per square foot respectively in comparison with the previous three months. The price of property in Downtown Burj Dubai also remained stable at AED1,300 psf, whilst prices in Emirates Hills were consistent at around AED1,600 psf.
Property in the Green Community district of Dubai is still seen as offering excellent value for money, with prices around the AED700 psf, with the Jumeirah Islands currently around AED950 mark.
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