Emaar Properties’s signature Downtown Burj Dubai development has seen a fall of over 20 percent in property values. Some of the properties within the Burj Dubai tower have now reduced by up to 50 percent.
This goes in line with our report earlier this month on Dubai’s property prices falling. Many developers are now forced to sell their overflow cheaper than they’d hoped for in order to save them from certain bankruptcy. It also seems that high end developments are affected more so in Dubai than the middle and lower market.