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Dubai real estate to offer affordable housing options
(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."
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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