Better Homes News
Prices moving… up?
It seems that the worst may well be over for Dubai property prices. While many experts predicted prices to continue falling throughout the remainder of 2009, several communities have actually increased transaction prices in May and June from a month earlier. This trend isn’t universal – certain communities have continued decreasing – but the universal free fall across Dubai which started in December 2008 has subsided. Indeed, our own State of the Market report predicted prices to continue falling for some time yet, but this is one prediction we’ll be happy to be wrong about if trend has truly changed.
So what is this assertion based on? Well, the June issue of Better Homes magazine highlighted the price increase at The Springs, where 2-bedroom villas were selling at AED 1 million in April and then 1.2 million in May. The Springs anecdote can now be seen in several other communities which have registered increases in their transacted prices, not just asking prices, month on month. Here are some examples:
Certainly, many other communities are still seeing declines, but current figures are suggesting that now is perhaps a great time to get into Dubai property as a medium to long term investment. With property competitively priced throughout the Emirate, investors’ money can go much further. There are indeed incredible deals currently on the market for opportunistic investors.
For more information on current market trends and investment opportunities, please contact a Better Homes consultant at +971 600 52 2212 or visit bhomes.com.
