(MENAFN) Dubai's Real Estate Institute CEO Mahmoud Al Burai declared the real estate market to be ahead of a movement of more reasonably priced property choices.
Last year's transactions of nearly 82% were found to be under AED 2 million, as nearly 47% under AED 1 million, based on a study carried out by the Affordable Housing Institute.
The CEO stated "Dubai is more affordable, and people can afford (living in the emirate). We have a reverse migration from other emirates to Dubai. A lot of people are ... coming and investing in Dubai. The trust is there ... the prices are a little down, but this is good for us, because we want to bring more people to the city. This is part of our economic growth."
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