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 to develop a defence industrial free zone in Abu Dhabi
Apple settles lawsuit over late Siri AI features for $250 million
UAE plans to establish global defence manufacturing hub
UAE signs contract to purchase C-390 Millennium aircraft for air force
'Make it in the Emirates' sees strong local, international turnout
