Lewis Allsopp, CEO of Allsopp & Allsopp explains the possible reasons for the rise and a couple of comments from buyers. It also states price differences between inner city communities and suburban communities: “A 1,557 square foot 2-bedroom apartment in Dubai Marina’s Silverene Tower with a Marina view is AED 2.7M whereas a 1,769 square foot 2-bedroom apartment in Damac Hills with a full golf course view is AED 1.3M. A difference of AED 1.4M and the apartment in Damac Hills is more modern and larger.”
Once we see movement in first-time buyers, we will see a domino effect through the market with a lot more activity, positivity and confidence.” Lewis Allsopp, CEO of Allsopp & Allsopp.
The announcement of a permanent residency ‘Gold Card’ for investors and those with exceptional competencies in the fields of medicine, engineering, science, and arts is a huge milestone for the UAE and for the Dubai property market.