Popular in the UAE real estate portal PropertyTrader has published its data on search requests for residential property in Dubai. According to the report, such Dubai areas as Dubai Marina, Downtown Dubai and Palm Jumeirah remain among the most popular in real estate buyers.
23% of all searches and visits in January were for Dubai Marina, 21% of buyers were looking for housing in Downtown Dubai, while another 15% are willing to buy property on the man-made Palm Jumeirah Island, according to the portal’s data.
“Many investors are scenting a bargain, with the chance to make a fortune when things pick up later down the line,” company Sales & Marketing Director Umer Ali said.
On the other hand, affordable housing sector is also gaining momentum in Dubai. At the official launch of this year’s upcoming International Property Show Land Sterling’s managing partner Abdul Basset Betraoui said that affordable housing “is something that we’ve seen really kick off” over the past 12 to 18 months”.
“Suddenly, in the last year and a half, you’ve got 50 per cent of people working here who are able to buy, whereas prior to that, you’d find only 5 to 10 per cent,” he added.
Such projects as the Ritz by Danube in Al Furjan area, as well as other affordable property offers in such areas as International City, Sports City have significantly increased the attractiveness of Dubai for middle-income buyers. In the long run this situation promises the city good dividends from the point of future development.