Luxury property in Dubai dropped appreciably in first six months of year

August 4, 2014 1:41 am

The squeeze on Dubai’s property values getting too ahead of what can be deemed sustainable is paying off handsomely. The impact is most telling within the top-end of the residential marketplace, Gulf News has reported. Knight Frank report finds that high-end homes in Dubai saw value gains of 6.3% in the first months of the year. That is a relatively toned down growth pattern given that values for such properties in the first three months of the year were up 11.7%. “While there will always be investors interested only in trophy purchases in Dubai, the rest of the market is being driven by long-term buyers and end-users,” said the head of a brokerage firm.