After a long break, things are looking brighter in Dubai. Great to see Dubai Property market coming back on track. Developers too are giving exciting offers discounts.
Property market of Dubai:
Concrete business once again gearing up in Dubai. Yes Dubai Property Market After seeing an all-time low in 2020 and 2021, things are becoming better for real estate people, from Dubai Marina to many big projects attracting investors to invest in Dubai again to gain the best returns.
Property market has boomed in the last ten years in Dubai – is it better to buy a ready property or go off-plan?
The solution always lies in where the buyer is looking – and what sort of price he is willing to pay. For example, if considering a flat between Dh500,000-Dh3.75 million, the buyer will still get instant units costing less than an off-plan.
But if the buyer’s investment is for villas in the Dh10 million-plus range, then trying off-plan will be the less costly choice. Because right now, ready-to-move-in or living Dh10 million-plus villas are becoming no delays in obtaining a buyer – and ones ready to fork over immediate cash.
- According to Property Finder, the average transaction price for an off-plan property year-on-year has increased by 55%, from Dh1.25 million in August 2020 to Dh1.95 million.
- The middle price for an off-plan flat sale in August last year was Dh745,500, and this has grown by 48% to Dh1.10 million.
- There is a 12% rise in the median price for off-plan villa/townhouses business values as they grew from Dh1,65 million to Dh1,85 million during these 12 months.
Thinks are looking brighter compared to the last three years. Many Real estate people are getting that vibe too. Now the question is there more properties available to full fill the demand of investors. Today, many investors looking for suitable properties. Now it is on developers to provide exact property to their clients. So expo 2020 is also an opportunity for Real estate people to attract more people to Dubai.