In first quarter of the year villas/townhouses were trading at around AED 2.7 million and apartments were trading at an average of AED 1.2 million.
The prices for villas/townhouses started the year settling a little above the 2017 average which is mainly due to limited lower priced inventory entering the market. This is comparing the number of newley launched projects that entered the market during the first half of 2017.
The trading prices for Apartments however continue to shift towards the lower end of the price band, averaging out at AED 1.2 million in Q1 2018.
The middle-income population (AED 15,000 to 25,000 per month income bracket) has been the key target segment for the majority of 'affordable housing' apartment launches by developers in recent months. The majority of this new inventory offers smaller unit sizes to keep prices attractive, along with providing incentives, such as Dubai Land Department (DLD) fee waivers and payment plans with limited commitment (20-30%) during pre-construction
period and extended post-handover payment options.
*Statistics and reports provided by Property Monitor powered by Cavendish Maxwell.
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