Dubai Marina apartments experience amazing price hikes, reports Bayut.com

By: bayut.com
 
May 27, 2013 - PRLog -- Principally, the first area in Dubai to recuperate from the economic crunch, Dubai Marina has been developed in a way to cater to the superlative accommodation needs of the elite class. The increase in demand for the apartments in Dubai Marina can be regarded as a gateway for eluding the recessionary effects that prevailed in the state. High-end lavatories offered in many towers in the community proved as a magnet to entice the investors to invest in Dubai Marina, even during an economic depression.

According to Bayut.com, a top-notch Dubai property website, out of the total visitors searching for Dubai properties, around 14.42%, searched for the apartments in Dubai Marina in Q1 2013. Last year’s statistics were even stronger, as the popularity chart showing a steady climb, touched 15.58% in Q1 2012. And at the end of Q3 2012, this percentage rose to its peak showing a figure of 17.17% interest of the total number of property buyers in Dubai for Dubai Marina Apartments.

A record hike has been observed in the sale prices of 2, 3 and 4 bedroom Dubai Marina apartments in the current year. According to Bayut.com, the average sale price of 2-bedroom apartments in Dubai Marina was recorded at AED1,593,324 in 2011, while it reached to AED1,781,474 in 2012. In the Q1 of the current year, the average sale price of 2-bedroom apartments in Dubai crossed the mark of 2 million. Almost analogous trend was observed by Bayut.com in 3- bedroom apartments. Nevertheless, the escalation in average sale price of 4+ bedroom apartments outdid other categories of apartments in Dubai Marina.

After experiencing a downward trend following the recessional dip of 2008, the average sale price of 4+ bedroom apartments in Dubai Marina started showing recovery after 2010. The average sale price rose from AED 5,023,058 in 2010 to AED6,307,738 in January 2012. The average price of 4+ bedroom apartments in Dubai Marina up surged to AED8,284,822 in January 2013.

All these statistics indicate that Dubai Marina apartments outshined to pioneer the fold back from the recession and the mounting trend is likely to continue in the impending time.    

For more information please visit: www.bayut.com
End
Source:bayut.com
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Tags:Dubai, Real Estate, Properties, Dubai Properties
Industry:Real Estate
Location:United Arab Emirates
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