A number of properties in Dubai sold for less than AED1 million after the Economic Crisis
17/03/2013
Now, every investor has an opportunity to own a luxurious property in Dubai that has a price tag of at least AED1 million because of today’s lower prices and bargain interest rates as well, compared to booming years in which the properties prices were so expensive or higher.
Due to huge impacts of financial crisis, a number of investors have lost thousands or millions of dollars for their property investments in particular; for the property prices have dropped almost half of their original values since then. However, some property investors have taken advantage of such opportunity that they can upgrade their property from either studio apartment or one-bedroom unit to three-bedroom apartment because of the fact that the current prices for properties in Dubai have become affordable but have gradually increased, especially those properties located closer to Metro Station; for they are witnessing high demand for both leasing and sales transactions.
So far, based on the Wealth Report 2013, the Emirate of Dubai has been considered as the City with least expensive real estate market if compared to other cities in the world, such as Monaco, HongKong, Singapore, New York, and Mumbai.
Mostly, along the prestigious Sheikh Zayed Road, there are community development projects in which every investor has a chance to own a property that ranges at least AED1 million. They are as follows: Business Bay, a district in which hundreds of Skyscrapers are located; Downtown Burj Dubai in which the tallest tower in the world is situated; Dubai Marina which is a waterfront development project; The Greens, a good area for families; and the Jumeirah Lakes Towers, a growing area that received a number of companies registering in order to start their operations in the Emirate’s market.
Due to huge impacts of financial crisis, a number of investors have lost thousands or millions of dollars for their property investments in particular; for the property prices have dropped almost half of their original values since then. However, some property investors have taken advantage of such opportunity that they can upgrade their property from either studio apartment or one-bedroom unit to three-bedroom apartment because of the fact that the current prices for properties in Dubai have become affordable but have gradually increased, especially those properties located closer to Metro Station; for they are witnessing high demand for both leasing and sales transactions.
So far, based on the Wealth Report 2013, the Emirate of Dubai has been considered as the City with least expensive real estate market if compared to other cities in the world, such as Monaco, HongKong, Singapore, New York, and Mumbai.
Mostly, along the prestigious Sheikh Zayed Road, there are community development projects in which every investor has a chance to own a property that ranges at least AED1 million. They are as follows: Business Bay, a district in which hundreds of Skyscrapers are located; Downtown Burj Dubai in which the tallest tower in the world is situated; Dubai Marina which is a waterfront development project; The Greens, a good area for families; and the Jumeirah Lakes Towers, a growing area that received a number of companies registering in order to start their operations in the Emirate’s market.
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I need a job. As marketing manager
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Sajad
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