According to a new survey carried out by a UK based online estate agent, eMoov.co.uk, property buyers are more concerned with the location of the property rather than the property itself. 75% of the people surveyed said they favoured a “perfect area” as opposed to a “perfect home”. The survey also revealed that good neighbours, good transport connections and local job prospects were also important considerations. Russell Quirk, eMoov.co.uk‘s chief executive officer, stated in his blog that people despite all their different deliberations, decide on a property primarily based on the location.
On the other hand, buyers and investors in Dubai consider the price of the property first. Masood Al Awar, Chief Executive Officer at Tasweek, said that market research reveals that the second factor looked at by investors is the return on their investment, whereas end-users look at quality.
Property prices have increased by 20% in Dubai but centrally located luxury property remains most affordable in relation to other global cities, according to Knight Frank’s Wealth Report 2014.