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Dubai: luxury property becoming more attractive

Thursday, 26 November 2015

Market prices for Dubai luxury property fell slightly attracting investors.

Dubai propertyLuxury apartments in the popular areas of Dubai such as Dubai Marina and the Palm Jumeirah have fallen for three quarters of this year by 3 and 2.5 percent respectively, experts expect a slow decline 3-5 % will continue next year.

Dubai property market  is attractive for investors which looking for a good quality for a reasonable price and higher income from investments. Thus the average price per square meter in Dubai three times lower than in London (USD 4,250 versus USD 13 275 per square meter) and for the amount that is necessary to pay for a 4-bedroom villa on Palm Jumeirah  with a garden, swimming pool and a private beach you can buy an apartment with 2-3 bedrooms in London's Chelsea an area which is less than the third of the Palm’s villa.

If a investor wants to buy off-property in Dubai developers now offer up to 10% dubai marina tonightdiscount from the list price, different attractive payment plans or "give" luxury cars in addition to real estate. Off-plan property prices are lower by 20-30 percent than similar completed.

The real estate prices are down unevenly.  The biggest fall was in Victory Heights (-8%), Springs (-7%) and villas on the Palm Jumeirah (-6%). Reduced market price stirs the interest of investors and the total number of transactions in the current year compared to the 3rd quarter of last year increased by 6.6% for apartments.