Despite soaring temperatures Hitting 50 degrees C, activity in the Dubai property market seems very active, traditionally a quite period due to the temperatures and locals taking their annual leave and going to cooler countries for the summer, many Realtors are still saying that are experiencing significant activity with many would be buyers taking advantage of the cheaper prices are the more flowing mortgage availability.

In particular activity in Springs area of Emirates living where the type 4 villas 2 bedroom plus maids reached a low point of 1m aed -1.1m aed on prices 3 months ago are now trading at 1.4m aed with rental units in scarce supply. Palm Jumeirah as been active albeit suffering badly on price falls now all villa prices are seeing noticeable rises in prices from the low point in January / February of this year with no villa distressed sales available with all real estate agents stating that they have significant enquiries for would be buyers at February prices with no availability as driven prices up by around 10-15% since the lowest point.

Downtown which includes Old town, Business Bay and DIFC areas is showing quite a lot of activity for completed ready properties or coming ready properties in these areas, again many requests for distressed sales which are not available, The address, World Trade centre and The pending delivery of Burj Dubai tall tower has driven activity from Burj Dubai lowest prices of 2500 Aed sq ft for a residential unit up to 3500 Aed sq ft again with a shortage of availability. Business bay completed units like Executive Tower are trading but no activity in Business Bay off plan units which remain in abundance.

Dubai Marina and JBR have seen brisk trading over recent months with particular activity in Emirates Crown where 02 type units are no longer available which over unobstructed Sea and Palm Views. Marina Views are still available and offer great value for money, Offplan activity still remains subdued, prices rises in JBr have been notyed particularly for sea view units the prices very much hit bottom at 1000 aed sq ft, are now going upwards.

Jumeirah Islands villas again huge activity with a shortage of supply and no distressed sales available with a typical European Style villa now trading at 5m Aed from hitting a low point of 4m aed on distressed sales. Other villas developments of Green Community and Dubai Sports City area all seeing brisk trading, The long awaited Villa Development of Mazaya style and the Spanish range are still available distressed but availability will start to disappear when delivery commences of Phase 1 in August.



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