The Property Finder reported the UAE’s affordable residential areas. According to Property Finder Group’s report, at Dh536 per sqft, International City was by far the cheapest place to buy an apartment in Dubai last year.
Dubailand (Dh662) and Dubai Investment Park (Dh690) were the next two most-affordable options, it said, adding that Arabian Ranches has reduced in price by up to 30 per cent last year making it a very affordable option for families, according to an article in Zawya.
Jumeirah Village Circle at Dh646 a sqft was the most affordable place to buy a villa in Dubai last year as prices fell 11.1 per cent in the area. Green Community (Dh663) and Town Square (Dh738) were the next most affordable options.
“UAE real estate, marked by 2018, has developed a variety of affordable options suitable for almost all budgets. This factor has dramatically increased the competition within the region between the real estate giants and emerging boutique developers,” said Anna Sheremet, head of sales at Sweid & Sweid.
In Abu Dhabi, the report said affordable communities outperformed the more expensive developments last year. Al Ghadeer (Dh794) was the most affordable area to buy an apartment in the capital while Al Reef (Dh805) and Baniyas (Dh913) were the next two most affordable options.
For buying a villa in the capital, Hydra Village (Dh468) was the most affordable place. It was followed by Al Reef (Dh650), Al Samha (712) and Al Ghadeer (Dh750).
Fulya Altunyay / [email protected]