Dubai Property Prices Down a Quarter Since Peak
_from choices dot co dot uk and ameinfoReal estate prices in Dubai have fallen by 25 per cent since the peak in September 2008.
Average prices for high-end property are down 35 per cent since the peak, and properties targeting middle-income earners are reported to be down by 18 per cent.
As properties aimed at low-income customers have also dropped in price, only projects at Dubailand, Dubai Sports City and Jumeirah Village have been able to maintain their prices.
The figures mean that the International Property Show – Dubai 2009 will be able to play on the lower prices to offer end-users and investors property at bargain prices. The event, running 15-17 February in the Dubai International Convention and Exhibition Centre, is organised by Strategic Marketing and Exhibitions.
The property show will showcase a number of master developments nearing completion, with investors probably hoping to snap up some cut-price units.
Dawood Al Shezawi, managing director at SME, said: “The continuous growth of the International Property Show - Dubai 2009 underlines our commitment towards helping developers grow their business by means of generating international exposure for their world-class projects.
“In addition, there will also be special pavilion for banks and financial organisations to address customers seeking financial assistance in their investments.”
The Dubai show will feature real-estate projects from the UAE and around the world. It is expected that high net-worth individuals will attend, together with commercial and residential investors. Also renowned for its networking opportunities, the event is aiming to overtake its previous attendance record, of 35,000, in 2008.