Dubai apartments are now up dh400k cheaper

Apartments in Dubai are now up Dh400,000 cheaper than six years ago, according to analysts.

Since the Dubai property market crash, the market has enjoyed sky-rocketing price growth as the emirate's economy has recovered. Nonetheless, analysts tell Zawya that prices remain 20 per cent lower than the market's 2008 peak, with a large number of developments in the pipeline expected to help moderate growth in the coming months.

"Prices are good and buyers have negotiating room as the market is slow," comments Ryan Mahoney, CEO of Better Homes Real Estate. "Sellers that were asking exorbitant prices in [the first quarter of] 2014 are now asking a far lesser price."