And a huge influx of new off-plan communities will provide affordability to Dubai property market.
Dubai Land Department (DLD) has recently revealed its latest findings about what trends are most likely to manifest themselves in Dubai’s real estate sector in 2019. As experienced in the first 9 months of the previous year, the first year half usually brings a year-on-year increase in investments, which totaled USD14bn last year. And with the latest government’s intention of giving long-term visas to UAE property owners, the prospects for investing in Dubai real estate is now even more attractive, especially for those who consider their stay in the UAE for a period of time longer than five years.
In particular, investments in luxury communities, that were previously out of reach for many UAE residents, are very likely to incentivize this year. Dubizzle Property also confirms that residential units in prime developments are now more affordable and getting more attention from potential buyers. According to the report by dubizzle, villa communities where potential buyers were searching accommodation in in the first three quarters of 2018 were
“As we move into 2019, we anticipate that this trend will continue, and we will see even more end users investing in the property market”, said Samer Abdin, General Manager at Dubizzle Property.
But together with a surge of interest in secondary homes in high end areas, we are likely to watch primary market also stabilizing in the run up to the Expo 2020, as the supply/demand ratio is getting healthier.
Affordable properties will be concentrated mostly in the under construction market segment, as opposed to high-end luxury. And, with this being said, quality will top the list of requirements potential property buyers put ahead when searching to buy an apartment or a villa in Dubai. Also, as confirmed by experts, there will be an increased interest from international investors, particularly Chinese nationals.
To sum up, we can expect the primary property market to start stabilizing in line with Expo 2020, while when considering investing in residential property the market is poised for both end-users and investors.
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