Dubai is the business capital of the Middle East & the pre-pandemic report shows that it has been the top destination of the world to buy residential properties. Covid-19 had changed the scenario for a while, but the market is again gaining momentum with slow relaxation of the pandemic rules. In 2021, property prices are likely to fall despite a strong finish to the year after the initial impact of the pandemic. Buy residential property in the UAE at a low price today & plan for tomorrow.
The market research suggests that the residential property prices fell by almost 14 percent in 2020 to AEDD55.46 billion from AED64.34 billion in 2019. The second half of 2020 has seen a sharp rise in demand again, but the all-around scenario of the market has kept the prices much below the projected levels in 2019. According to the reports of Chestertons – ’The villa sales prices has recorded a decline of 3.6 percent, with the overall annual fall eased by a robust final quarter’.
The year 2021 is going to be all about the recovery of the market demand and modest declines in average prices & rents of the property. The price movement is bound to vary with each passing year as per the location. But, the market experts & the trendsetters expect healthy demand for completed villas & access across established residential areas in 2021. The villas at Palm Jumeirah and The Springs saw the lowest price falls of recent times, like never before.
Search & demand data on Property Finder suggests that families are looking for bigger properties now, with soft in traditional small properties to the villa. Dubai is the place having some of the extravagant residential properties of the region, which also attracts buyers all across the world. If you are an investor looking for an investment opportunity in the real estate market, then the time right for you to make the move!
Buy your dream house in Dubai today and plan out the post-retirement scenario in the Emirates. The place has a mix of diverse cultures & rich history to enjoy your post-retirement life. Make a bold decision today and invest in buying a property in Dubai that suits your requirements.