What Dh1 million can buy you on Dubai’s Sheikh Zayed Road

Your options are quite limited now if you are looking to buy an apartment in master communities on Dubai?s arterial thoroughfare – Sheikh Zayed Road (SZR).

Eighteen months ago, you could buy an apartment for less than a Dh 1 million on SZR, but compared to the listed prices today, even a studio unit in Downtown Dubai, or two-bed units in Dubai Marina and Jumeirah Lakes Towers are hard to come by.

Market conditions and prices have changed significantly.?Prices soared by 20 per cent in 2013, driven by an influx of global investors due to Dubai?s safe investment haven status offering higher return on investments.

The UAE?s sound economic fundamentals saw the International Monetary Fund (IMF) project a gross domestic growth of 4.5 per cent in 2014.