Values of high-end property for sale in Dubai on increase

23/10/2009 - Dubai Property News
Values of high-end property for sale in Dubai on increase

Posted by Neil King

Property investors buying in Dubai may be interested to learn that apartment values have increased in the high-end areas of the emirate.

According to a new Asteco report, apartments in downtown Burj Dubai have seen their prices rise by eight per cent in quarter three this year.

This improvement, compared to drops elsewhere in the market, is a result of developments such as the Dubai Mall, the Dubai Fountain and augmented infrastructure in the area.

Asteco chief executive officer Elaine Jones commented: "Both Downtown Burj Dubai and Jumeirah Beach Residence are highly desirable, fully-established communities, which are exactly what the market is seeking."

She said access to schools, hospitals and transport, as well as leisure and entertainment facilities, is increasingly important for those looking to buy property in Dubai.

Meanwhile, rental prices have largely remained unchanged, Ms Jones pointed out.

This comes as Arabian Business cited Real Estate Regulatory Agency figures, which show a decline in rental prices in the emirate.