As per the latest trends, Dubai International City and Deira may soon transform completely into buyer’s markets. Costs have come down slightly for housing units and in case of two bedroom units in International City and Deira, rates have fallen by as much as 8.3%. Rentals have however been stable in other areas like Jumeirah Lake Towers, Dubai Sports City and Al Nahda. The Dubai Marina continues to command the best rentals and prices alike on account of it being a coveted realty destination. The normal leasing cost is AED 55, 000 for studio apartments as compared to AED 81, 000 and AED 120, 000 for one and two bedroom units respectively.
For housing units in the Jumeirah Village Circle, costs have increased for studios to AED 473, 000 from AED 440, 000. Housing units are roughly cheaper by 8.2% in Dubai International City. Dubai marina has seen studios going for anything around AED 850, 000 as compared to AED 1.21 million and AED 2 million for one and two room units. However, costs increased for housing units in Jumeirah Beach Residences to AED 1.15 million from AED 1 million. Costs remained stable for one room housing units at AED 1.5 million while they increased to AED 2.2 million from AED 2.1 million for two room units. There are several areas in Dubai where prices and rentals are falling, thereby transforming into buyer’s markets which present several opportunities for buyers and investors.