Luxury Is Now More Affordable with Softening Dubai Property Market

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With Dubai’s real estate prices softening across the Emirate, renters and buyers are searching for the most visually appealing properties and neighbourhoods

Affordable luxury is now in vogue as the ‘unobtainable now becomes the obtainable’ when it comes to Dubai property market.

Community living, outdoor spaces, and swimming pools also top the list of ‘must haves’ as people cement their roots in the UAE, according to the latest insight from dubizzle Property.

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The softening of the market is presenting opportunities for Instagram savvy generations when it comes to affordable luxury. According to the latest insights, areas such as Arabian Ranches, Palm Jumeirah, and Springs – previously out of reach for many – are now receiving an influx of interest.

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UAE residents’ dream home is an Instagram-friendly neighbourhood and property, which boasts outdoor space and has a community feel. These have emerged amongst a list of “must haves” for home-hunting residents who are looking to put their roots down in the UAE.

The insight from dubizzle Property looked at some of the most searched for keywords when it comes to people’s homes. Beautiful exteriors and pools feature as some of the most popular search terms, being clear indicators of property or neighbourhoods visual appeal. The shift towards community living is further underlined with people also preferring areas that offer big outdoor green spaces to enjoy their spare time in.

Samer Abdin, General Manager at dubizzle Property said: “People don’t always just search for property to rent or buy on dubizzle Property – they also look for houses they aspire to, or things that can be shared on social media. We recently had an AED 80 million villa listed for sale, which is something fantastic to share. People are curious to see what it looks like to live in, as it is most likely unattainable for most of us.”

Matthew Gregory, Head of Property Sales commented: “People want to be able to show off where they live, especially in Dubai, where there’s are many picture-worthy sights. With the prices softening across Dubai, people preferences are changing, and they are now looking for different communities that weren’t attainable before. We can notice from the search trends on dubizzle Property that people are no longer looking for apartments only, they’re searching more for Villa communities with green spaces, pools and outdoor squares.”

The Palm Jumeirah, for instance, moved into the top five searched villa communities for sale in 2018, reflecting a trend that the softening purchase prices are encouraging residents to consider higher end communities as they become more affordable.

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