Dubai property is a tale of two cities at the moment with popular villa communities and some high-end apartment zones gaining sharply in value over the past six months while prices of lower quality apartments and villas in locations closer to the desert are continuing to fall steeply.
In part this is a function of supply and demand with the former in short supply, and the latter piling up by the tens of thousands of units. Estate agents Cluttons reported six month price increases of 7.2 per cent for The Lakes, and 6.4 per cent for The Meadows and Springs, all part of Emaar’s popular Emirates Living zone.
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