The year 2008 may have seen Dubai's property market at its peak but it is better known for the buzzing market that, at that point of time, was ruled by speculators who mastered the art of flipping properties and making millions in seconds. Things have changed dramatically since then. Investors are still taking cautious steps when it comes to investments. However, Dubai property market is now witnessing a substantial interest from owner occupiers who are lured by the affordable prices for high-quality units in attractive locations that were way beyond their reach during the peak time.
Property spoke to a few agents in the market to find out what a prospective buyer with a budget of Dh2 million could have managed to buy during those crazy days and what he or she can buy today with the same amount.
Dh2 million in 2008
During the boom time, a buyer with a budget of Dh2 million had limited options to choose from. While good-quality villas didn't fit into this budget, a one-bedroom apartment was all a buyer could purchase with this amount. "Dh2 million in 2008 was good enough to buy only studios and one-bedroom apartments," says Mario Volpi, sales manager, PowerHouse Properties.
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