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.
ADNOC, Gecko Robotics sign deals to accelerate AI, robotics, skills training
Maktoum bin Mohammed chairs Board meeting of Federal Tax Authority
UAE’s first AI-designed business complex launched in Sharjah
ADNEC Group to host two of world’s largest events simultaneously in Abu Dhabi, London
China's Xi pushes for global AI body at APEC in counter to US
