The Dubai property prices - what to expect as a buyer

Dubai has definitely become one of the most attractive places in the world not only for its internationally famous technological and natural marvels, but also for its excellent business and work opportunities. With the current disturbances in the global economy, the Dubai property market also suffered a major blow, but not as large as the experts had estimated. The residential apartments, houses and villas are still attractive not only for their good quality and location, but also because of their lower prices that are expected to start increasing soon. Thus, now is the time to act. Here are some numbers to give you a general idea of the current price situation.

When making your financial decision concerning the buying of a Dubai property it is important to consider that all prices in the emirate are presented in the local currency – the UAE dirham. The abbreviated forex index is AED while the most popular one is Dh. The dirham is pegged to the US dollar with $1 being worth 3.67Dh. If you are primarily using another currency, it is best to check the international market indices for the day in order to have a better idea of the numbers presented below.

The most lavish and luxuries Dubai residential properties are the furnished apartments in the trendiest complexes such as the Palm Jumeirah, Dubai Marina and Burj Dubai. The price per square foot ranges from Dhs 1,100 to Dhs 1,500 that is between $300 and $408. These levels are more than reasonable considering the supreme locations and the amazing views the apartments provide. They are furnished in line with the latest trends and have internet access and cable TV provided. The shopping and recreational facilities widely available, the investment in such a Dubai property is definitely worth it. Furthermore, these are going to increase steadily over time with the gradually increasing demand.

There are also lower priced residential properties with the cost per square foot corresponding to the poorer quality and less attractive location of these. You can find offers ranging from Dhs 650 to Dhs 800 that is in the range between $177 and $218. The prices of these are not expected to increase substantially in the future primarily due to the large inventory that is expected to come to the Dubai property market by the end of 2009 and on.

At present with the development of the infrastructure in the emirate and its growing economy, the mid-range residential market segment is constantly developing. The community complexes offer all the facilities and comfort a family can require including recreational ones, but without the lavishness of the seaside and downtown projects. The location might not be perfect, but the safety and peacefulness is guaranteed. The two bed units in this type of complexes are around Dhs 1.4 million ($381,471) and the three bedroom ones are between Dhs 2.2 and 3.3 million that is between approximately $599,455 and $899,182 respectively. Overall, the investment in this type of Dubai property is also beneficial as long as you plan to live there permanently or rent it out for a long term.

If you have read this article till here, proving your genuine interest, the next step would be to learn how and where to find a Dubai property for sale in another post of mine.