Property prices in start of 2014 were increasing and now as we grew closer to end of 2014, Dubai real estate market is more stable. If we look at past months, there was a lot of news about the property bubble in Dubai. However, it did not affect the property prices, which is a good sign of stability in property market.
The month of September remained stable without any changes in prices. Dubai Marina remained on top for apartment transactions. There were total 163 transactions in Dubai Marina and low priced area International City remained at second with 147 transactions and Jumeirah Lake Towers at third with 127 transactions.
Apartment sales remained higher as compared to Land and Villa transactions in Dubai. There is a high demand for premium areas like Dubai Marina and Jumeirah Lake Towers.
Here to mention, there is a new supply apartments are coming soon. It will stabilize and meet the ever increasing demand of new apartments in Dubai.
In the month of September, there were only 43 Villa transactions in Dubai. According to our experts, this is quite low considering the real estate market of Dubai. Springs and Meadows remained on the top with 20 transactions, Jumierah Village 1 and Arabian Ranches on second and third with 11 and 20 transactions respectively.
There are decent numbers of land transactions have been seen from recent months. It is because of new developers coming to the market and the demand to build more apartments and villas.
It is a good sign of stability in real estate market, but investors are reluctant to engage their capital in new projects. Most of the investors are keeping an eye on the market for any changes.
Most of the sellers aren’t willing to sell their properties at lower prices and buyers are looking after discounts. Right now Dubai real estate market is very stable because there is no increase or decrease in prices from past 5 months.
Is it a good time to buy a property in Dubai?
According to the reports from past months, it is a good time because you may get a good price. According to our experts, prices will definitely go up as we move closer to Expo 2020.
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