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.
OPEC+ agreed on Saturday to raise production by 548,000 barrels per day in August, further accelerating output increases at its first meeting since oil prices jumped - and then retreated - following Israeli and US attacks on Iran.
The United Arab Emirates has consolidated its status as a leading force and key player in the digital nomad economy, rising to second place globally as a top destination for digital nomads in 2025.
A walkout by French air traffic controllers to protest against staff shortages and ageing equipment forced airlines to cancel hundreds of flights on Thursday, just as the summer season gets under way.
Abu Dhabi’s economy continues to show strong momentum in 2025, with new data from the Statistics Centre–Abu Dhabi revealing a GDP of AED 291 billion in the first quarter, up 3.4 per cent year-on-year.
Dubai has launched a programme for first-time home buyers, aiming to make homeownership more accessible and affordable by facilitating priority access to new launches, preferential pricing and tailored mortgage solutions.
Hear the highlights from the week gone by on Dubai Eye 103.8. Listen again to the best interviews, advice and the top stories that has gripped our conversation this week.
Enjoy your favourite music back to back commercial free, tune in to the Music Mix everyday from 1 until 2 for the music you love and the news updates you need
Apple Inc. shares fell Monday after a closely followed analyst warned that demand for the firm’s new iPhone 16 Pro model has been lower than expected. Is this a sign that the AI software just isn’t ready?
Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?