Report reveals a leveling off of prices across Dubai, with prices in older districts in Dubai adjusting to match the current prices in the newer communities, with Deira and Bur Dubai topping the list.

Dubai Marina studios and three-bedroom apartments for sale saw a decrease of 18% and 14% respectively, where as the rental price of studios remains at AED 70,000 and that of 3 BR apartments decreasing by 7% with an advertised price of AED 213,000 per year.

Dubai Marina was the most searched community in Dubai in Q2 2015.

Al Reem was revealed as the most searched for area in Abu Dhabi in Q2 2015.

Mohammed Bin Zayed City, Mussafah East saw a drop in for sale prices for studios, one, two and three-bedroom apartments and a rise in for rent prices for one and two-bedroom apartments to AED 54K and 81.25K respectively.

Dubai, UAE. 12 August 2015- dubizzle - the leading classifieds website for users in the Middle East and North Africa - reveals the latest UAE property trends in its Q2 2015 report, including the decrease in the price of properties for sale in Dubai Marina, the increase of prices of older properties in Old Dubai districts and the top 5 most sought after areas.

The report reveals that Dubai Marina that a staggering 4.9 million [MU1] [AC2] searches were made for one-bedroom apartments in the area between April and June this year. Sales prices saw a decrease of 18% and 14% in studio and three-bedroom apartments respectively. Dubai Marina's popularity has continued to maintain a top spot, two quarters in a row, with the desirable location being the most searched for community, with over 20 million searches in Q2 2015.

Another highly sought-after area, the Palm Jumeirah, saw an increase in sale prices of studios and two-bedroom apartments, climbing from 1.45 million to 1.54 million and 3.2 million to 3.35 million respectively.

At the other end of Dubai, Deira showed price increases due to there being a maintained demand by its occupants and no new supply; hence the market prices in these so called older areas even though cheaper than many newer Dubai communities, are shifting to be better aligned with property prices in newer communities. The rental price of studio apartments increasing by 18% in Deira and those in Bur Dubai rising from 60k to 65k, with three-bedroom apartments mirroring the same trend and rising from 150k to 158k.

Abu Dhabi has also seen price hikes in the rental market, with two-bedroom apartments on Saadiyat Island increasing by over 10% and three-bedroom apartments climbing from an average of 210k to 240k. Al Reem Island was the most scouted for community in the UAE capital, with over 2 million searches in Q2 and two-bedroom apartments the most popular searched for property type with more than 123k searches.

Mussafah East, encompassing Mohammed Bin Zayed City and Khalifa City remain the most affordable areas in Abu Dhabi to rent. However, rising prices are even spilling over into the most affordable districts, with rental prices increasing up to 13%. Mussafah East one-bedroom apartments witnessed an increase from 48k to 54k and in Khalifah City A prices rose from 50K to 55.5K.

Commenting on the report, Ms. Ann Boothello, Product Marketing Manager for property at dubizzle said: "The Dubai property market is softening as per the price changes experienced in Q2 this year. Some areas have experienced while older areas in Dubai showed price increases in reflection to a maintained level of demand for these older units and the alignment of their prices with those in newer areas in Dubai. An example of this is that now a studio in Bur Dubai is rented out for AED 65,000 annually and in Dubai Marina at AED 70,000."


"Prices of properties for sale decreased across Dubai, with the exception of studios and 2 BR apartments on the Palm Jumeirah increasing up to 6%. Abu Dhabi on the other hand, experienced price increases in for sale and rent properties; however Al Reem Island saw a drop in prices for 1, 2, and 3 bedroom apartments."

We would like to hear from you; what is your favorite community in Dubai and Abu Dhabi and why? Tweet us at @dubizzle using the hashtag: #telldubizzle

dubizzle.com is the leading free classifieds website for users in the Middle East and North Africa. Since its launch in 2005, dubizzle.com has become the number one platform for users to buy, sell, or find anything in their community. A community where underused goods are redistributed to fill a new need, and become wanted again, where non-product assets such as space, skills and money are exchanged and traded in new ways that don't always require centralized institutions or 'middlemen'. dubizzle.com is headquartered in the UAE, and is also available in Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia and Tunisia.

Contacts
Aimee Connor
PR Manager
Aimee.connor@grayling.com
+971 52 514 0033

Press Release 2015