Discounts To Be Had As Dubai Property Real Estate Market Bottoms Out

Despite all the negativity currently being branded around in the media in regards to Dubai real estate, has there even been a better time to purchase a property in the Emirate? It was only 6 months ago that people from all around the globe were flocking to Dubai to invest in what at the time was some seriously expensive real estate! Prices had shot up since the early 2000’s yet people kept coming. Not only due to the high quality and innovative real estate, but also for all the other life style perks that Dubai could offer. Sunshine all the year around, beach, great nightlife and being a very safe city all helped Dubai bring in the customers. And most of these factors have not changed, Dubai still offers its residents a great life style, but now to purchase a home, you don’t have to pay stupid money! The property crash has seen free hold real estate prices in free fall, and now you certainly don’t need to be an expert in order to find a great deal on Dubai properties, they are everywhere! If there are so many great deals to be had out there, then why is no one buying at the moment then?

Well, as many Dubai property agents will tell you, there is still a lot of interest and enquires for Dubai real estate despite the current problems, but as of yet these are not being seen through to sales. Many investors still believe Dubai property has yet to fully bottom out, and many are simply waiting for a time when they feel they can buy at the lowest price. Of course the difficulty is in knowing when this time is! There is always the risk of waiting slightly too long and missing the bus when it comes to these kinds of things. What is for sure is that Dubai property has already witnessed huge price drops; with experts estimating property in some developments is now 70% less than it was at its 2008 peak.

It is not unpopular property that is seeing these price falls but some of Dubai’s most sought after property. Villas at the Palm Jumeirah are reported to now be selling at some 50% less than 12 months ago, and Jumeirah Lake Towers has seen property go from AED 1500 per sq ft to today’s market value of AED 700. All of which adds up to big savings for those brave enough to jump in and get things started!  
 

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