Dubai apartments now up to $100,000 cheaper

Published March 16th, 2015 - 04:55 GMT

 Did you know that if you buy a one-bedroom apartment in Dubai today, you would spend nearly Dh400,000 less than you would about six or seven years ago?

Analysts said that if you’re planning to buy an apartment or villa, Dubai’s relatively low property prices, coupled with a slight decline in home loan rates, make 2015 one of the best times in years to invest in real estate.

Prices of apartments in Dubai now cost more than 20 per cent less than in 2008, and there is a likelihood that prices will further slow down or stabilise in the next few months, as more projects are expected to be completed before the end of the year.

“Prices are good and buyers have negotiating room as the market is slow,” said Ryan Mahoney, CEO of Better Homes Real Estate. “Sellers that were asking exorbitant prices in [the first quarter of] 2014 are now asking a far lesser price.”

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