This is a good time to go hunting for prime land plots that are almost impossible to buy when the market is booming, according to industry stakeholders.
The average land sales price in Dubai currently stands at Dh325 per sqft – this is an average across both freehold and leasehold areas, according to data provided by Reidin. This compares with Dh700 to Dh800 per square foot in 2007-2008.
The average transacted price per sqft for a land plot in Downtown Dubai and DIFC currently stands close to Dh2,000 per sqft. Meanwhile, the average price per sqft for a land plot in International City stands at Dh250 per sqft, according to Reidin data.