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Many of the established luxury developments also contain their share of cheap Dubai property targeted at the budget investor. Take for example the Dubai Marina, sometimes billed as the largest real estate development on earth. It does have some of the most expensive real estate in Dubai, however it spans a massive 5 million square metres of the coastline and even here, amongst its numerous buildings, there is no shortage of cheap Dubai property.

Developers Shift Focus to Cheap Dubai Property

There is also increasing cognizance being taken by developers of the need for cheap Dubai property with ever escalating real estate prices. One of the key drivers of the real estate boom has been the continuing massive influx of expatriates into the Emirate. By far the largest numbers of foreign workers come not from the west, but from poorer countries such as India, Bangladesh and Pakistan. Their requirement is clearly for cheap Dubai property. Another outcome of the steep increase in prices of luxury units is that people working in Dubai are moving to neighbouring Emirates such as Ajman and Sharjah because of the lack of cheap Dubai property.

Real estate developers are responding. Recently Dubai Properties announced the construction of 50,000 budget homes to fulfil the burgeoning cheap Dubai property market.

International City, a unique multicultural residential project on 800 hectares of property, built by the giant government owned Nakheel, is another development focusing on the cheap Dubai property segment. Rentals on units at International city were recently going for an economical Dh42,000 for a studio and Dh58,000 for a one bedroom making it one of the cheapest Dubai properties going.

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