Is this the right time to invest in Dubai real estate? Residential prices see first annual plunge since Covid: Report

Dubai's average residential property prices have fallen by 1.7% year-on-year in August, the first such decline since 2021 Total residential sales value in the first eight months of the current year is down 24% compared to the same period last year Despite a market slowdown and typical summer seasonality affecting sales volume, underlying demand for Dubai real estate remains strong Home prices in Dubai have plummeted year-on-year, the first time since 2021, when the impact of Covid-19 pandemic impacted property markets in the UAE, according to Cavendish Maxwell, a leading independent property consultancy in the Middle East. “After an extended…