11.04.2013 - Prices soar for low-budget housing in Dubai
Rising confidence in Dubai's residential property market has helped boost prices for low-end villas by 20% over the past six months in the emirate, according to a new report by Cluttons. In its Q1 report, Cluttons said prices are also rising at the higher end of the residential market, just not as fast. Between Q3 2012 and Q1 2013, average prices for high-end villas in Dubai rose by 8.9%, while mid-range villas gained 14.9% over the same period. This trend has been mirrored in the apartment segment, where lower-budget units registered sale price growth of 14.6% over the same period. By comparison, both high and mid-range apartments recorded average price increases of 10% each. (Press Release)