A recent report on the property market performance in the second half of 2018 by Bayut.com has seen a slight slide in property prices. Though a few areas have remained steady in the second half of the year, some locations have seen declines in prices of up to almost 13%.
The most popular area for apartment sales is still Dubai Marina where prices were stable in the second half of the year against the first half, as have apartments in Downtown Dubai. The biggest drop in the price of apartments was International City where prices fell by 12.9%, and other areas of Dubai saw a drop of between 2 and 9%.
The price of villas has also seen a drop in the second half of the year and though Arabian Ranches is the most sought after area for villa sales, average prices have fallen by between 6 and 7% overall, with three bedrooms selling at Dhs 2.8million, down from Dhs 3.05million, and four bedrooms down from Dhs 4.1million to Dhs 3.8million.
In the rental market prices have also seen a drop with areas such as Discovery Gardens down by 12.5% for apartments and villas in Jumeirah down by 9.5%.