Yes, it is. Prices for properties in Dubai have dropped significantly.
Cavendish Maxwell’s latest Dubai House Price index suggests the average annual house price in the emirate was down 13 per cent in April.
Some communities saw even higher price declines, including Emirate Living, Dubai Silicon Oasis, Jumeirah Lake Towers and IMPZ, where it dropped by more than 14 per cent year-on-year.
From March to April, the average house price decreased by 1.5 per cent to AED 2.5 million.
Meanwhile, the average apartment price was AED 1.7 million, compared to AED 1.8 million in the previous two months.
UAE Central Bank support package reaches AED 6.2 billion
Dubai Holding picks 15 scale-ups from 1,400+ applicants for sustainability challenge
ADNOC backs UAE's AED1 billion National Industrial Resilience Fund
Trump sets deadline for EU to comply with trade deal or face 'much higher' tariffs
Emirates Group marks record annual profits with 20-week staff bonus
