Dubai Property Prices See Marginal Decline in the Q1 of 2019 – Bayut.com reports
Dubai Property Prices See Marginal Decline in the First Quarter of 2019 – Dubai Q1 2019 Property Market Report by Bayut.com
With notable projects by trusted builders such as Emaar, Meraas and Dubai Properties grabbing the attention of the global market, both the off-plan and secondary market in Dubai have started off on a fairly positive note in the first quarter of 2019. Search trends show that interest remains high on luxury destinations such as Dubai Marina, Downtown Dubai and Palm Jumeirah, all of which feature in the list of top 10 most popular areas with users. There has been a minor decline in sales and rental prices in Q1 2019 compared to those seen in Q4 of 2018, but changes remain modest.
Forecast for Q2 2019
Haider Ali Khan, CEO of Bayut, said: “The first quarter of 2019 appears to be continuing in the trajectory we observed in the last few months of 2018, with prices remaining largely unaffected in prominent areas such as Dubai Marina and Arabian Ranches, or reducing marginally. An interesting trend we noticed in 2018, which continues in this quarter is the growth in search volume for more affordable, well-integrated, suburban neighbourhoods like Dubai Silicon Oasis, JVC and Dubai Sports City. These areas have incidentally shown a slight increase in prices but continue to remain popular because of their favourable reputation as well as high ROI. The move toward community-based living is also echoed in the city’s popular off-plan locations, which feature fully integrated projects like Akoya Oxygen and MBR City.”