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 Dubai » Villa Development
 
With the mortgage in the Dubai property market we are definitely seeing a cooling of the market prices, certainly with villa prices over 5 million dirhams there has been a drop in prices in all areas.

The sentiment throughout Dubai is that this is good for Dubai in order to control property prices in all areas of the Emirate, the aggressive recovery since the crash of 2007/2008 saw property prices rise as much as 30% in some areas which is not healthy for a stable market, many analysts now believe that the current activity represents a stabilization which is long overdue.

Whilst the banks have quite large mortgage targets to achieve the activity below 5 million dirhams whereby mortgage loan to value is at 75% and this part of the market is quite busy. Above 5 million dirhams, whereby would be buyers need a 35% deposit, the market is slower and signs are saying that it's slightly improving following the slow start at the early part of the year. Shrewd buyers now have the added benefit of prices cooling but also the fact that overseas owners are now dropping prices due to currency repatriation incentives as the dollar which the dirham is pegged at remains strong against sterling and the Euro

Emirates property Shop for all your requirements Buying and selling villas within Jumeirah Golf Estates for expertise advice on the community our consultants will be glad to assist.



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