Dubai property sale prices see 12 per cent drop

Property sales prices in Dubai have fallen by around 12 per cent since 2017 (Mikhail Davidovich/123rf)

Property sale prices in Dubai have fallen by around 12 per cent in the last two years.

That's according to the latest Property Finder Trends report, which revealed that apartment sale prices in the first half of this year dropped by 11.7 per cent when compared to 2017.

Meanwhile, villas prices are down 12.1 per cent over the same period, with the report finding that some of the higher value, older luxury villa communities have not performed as well as newer, more affordable projects.

Al Sufouh, Remraam and Downtown Dubai witnessed the biggest sale price drops for apartments during the first six months of 2019, with areas such as Mirdif and Jumeirah Village Triangle showing the greatest resilience.

Communities like Damac Hills and Emirates Hills saw the largest declines for villas, while Dubai South and Town Square were among the most popular areas for new affordable, off-plan offerings.