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Recent months have seen dramatic changes in the Dubai property market, as residents focus on prominent issues such as the falling property prices and the cancellation of high profile developments throughout the Emirate. Understandably, the more challenging economic conditions of recent times have resulted in significant changes in the property market, as people look for opportunities that have arisen as a result of shifts in the traditional property market dynamic. The cavalier attitude towards property investment, so prevalent in Dubai in recent years, has been replaced by a more considered approach, with newly empowered investors performing a far higher degree of due diligence on prospective properties. In fact, despite the bad news in the Dubai property market, many destinations throughout the emirates have become more popular with people looking to purchase, as investors seek both security and the immediate opportunity to monetise through rental income. Whilst it would be naive to suggest that the Jumeirah Village development has not been affected by the emirates property price decreases, it does present a more economically viable option for property purchasers today. As such, increasing numbers of investors are looking at Jumeirah Village as a more solid investment opportunity, and are moving away from off-plan developments which are perceived as higher risk. Whilst not entirely unique in Dubai, Jumeirah Village is one of the few developments focusing on family style accommodation, by offering a wide range of luxurious townhouses and spacious villas based on Mediterranean and Arabian architectural themes. This focus on the market for luxury family properties has ensured that the price of property in Jumeirah Village is not impacted to the same degree by the large number of studios and apartments which are now coming onto the Dubai property market. As with so many property developments in Dubai, the past few years have seen investors focusing on Jumeirah Villages excellent location and facilities, as well as its valuable freehold status. More recently however, the market for real estate in Dubai has shifted away from off-plan developments, and more towards the completed projects within the Emirates. With completed developments offering not only the security that the projects will be built, but also the more immediate opportunity for monetisation through rental income, it is easy to see why property in Jumeirah Village has become increasingly popular in recent months. For people who are looking to purchase property in Dubai, Jumeirah Village is likely to prove a popular choice, and more importantly less of a risk than other undeveloped projects in the Emirate. With a large number of projects currently being delayed in Dubai, developed and established projects such as Jumeirah Village are more likely to hold value in the current climate, and appreciate considerably when investor returns to the market.
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