Affordable apartments in Dubai on a rise

Apartments in Dubai have gotten significantly more affordable for buyers, as average prices dropped some 19 per cent over the last few years, lopping nearly half a million dirhams off the average price tag, according to the latest figures. The selling rate of a typical apartment in the emirate dropped further to Dh1.7 million in April 2019, cheaper by about Dh400,000 compared to the prices in September 2015, which averaged Dh2.1 million, data from Cavendish Maxwell showed. Other property types, including villas and townhouses, have also shed 20 per cent in value to Dh5.6 million during the same period. Overall, the average house price in Dubai now stands at under Dh2.5 million.