How You Can Find Good Houses for Sale in Dubai


Property Prices 
The recent problems of the property market in Dubai are well publicized, with the resultant plethora of Dubai cheap houses for sale and house sale in Dubai advertisements all over the internet and in real estate agents’ windows. Zawaya Property  have listings across the spectrum of properties in Dubai, from the more modest to the luxury.

Trend  
If we want to think about the property price trend in Dubai, we can look at data from 2003 to 2016, and consider the projection for 2017.  This would show that prices steadily rose from 2003 to 2008, with July 2008 being the peak.  They then steadily fell until early 2010, recording a 40% drop in Q1/2009 alone, at which point they began to level out, and in fact show gradual gains for the next three years, until experiencing a dip again in early-mid 2014. This heralded a period of falls until the end of 2016. According to experts in the market, prices are likely to rise in 2017, but the rate of rise is open to debate. It is estimated that prices fell by around 15% in the last two years, with the high-end and luxury market experiencing the biggest decline.

Reasons 
As with most property market falls, the reasons are numerous. The Dubai property market is still relatively young and, therefore, more susceptible to external factors than more established markets in places such as London and New York. The default by Dubai World in late 2009 signaled an exodus of property owners fleeing Dubai, with a resultant downward pressure on prices. More recently, as a result of sanctions by both the US and EU, Russian investors began to sell-off their properties in Dubai. The Dirham is pegged to the US Dollar and with the increase in value of the US Dollar prices in Dubai appear to behigh.

Comparison 
Property prices in Dubai remain extremely competitive when compared to other major cities around the globe; if you take a look at the prime market, prices in Dubai are 60% less expensive than New York, 75% less than London, and 85% lower than Hong Kong. As an example, a five-bedroom home with pool can be had for $1.7m in Dubai, about what you would pay for a two-bedroom flat in New York, London or Hong Kong in a good location. Relatively speaking, there are plenty of cheap houses for sale in Dubai.

If you are interested in investing in the real estate market in Dubai, visit Zawaya Property for more information. 



Tags: real estate market in Dubai, Dubai cheap houses for sale, Houses for Sale in Dubai

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