Now is the time to invest in Dubai property in sought-after localities, property experts have said.
Emirates247 reported that many experts predict that the market is bottoming out, which means that prices will start to increase in the coming months.
Indeed, according to Marion Abu Thina, senior sales and leasing consultant at JBR Office of Better Homes, prices are now back to where they were in 2005 in most areas of the emirate, noting that in particular, waterfront properties are a "solid investment".
"With sales prices stabilising and a wide range of properties to choose from, now is a good time to buy," Vineet Kumar, head of business development, Dubai at Asteco Property Management, told the news provider.
"There is a marked difference between lower quality and higher quality properties, some areas are more sought after than others and certain developments have better maintenance records than others especially for common areas," he added.
The expert also explained that mortgage providers have retuned to the market and are offering competitive rates, but noted that this "may not be sustained as the market gains momentum".