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Real estate insights from reliable sources, as well as data by DataFinder, the Property Finder Group’s platform, indicate that 10,989 transactions have been registered in Dubai in a year until now, while another 7,869 transactions were recorded at the secondary market.
This indicates that Dubai's real estate investment is no longer just a playground for wealthy landlords, but also a real market for end-users with a limited budget, Data Finder said in a statement.
Real estate off-plan sales this year accounted for a bigger share of transactions worth in total up to AED3 million.
Moreover, according to the Data Finder statistics, 18 858 real estate transactions with properties worth under AED1.5 million (US$408,441) were registered in the emirate from January to September 30 this year, compared with 17,009 same priced units of the same category last year.
In the next price range segment — from AED1.5 million to AED3 million — 6888 off-plan housing transactions were registered in Dubai in the first nine months of 2019. The category including units priced between AED3 million and AED 5 million there were 2196 transactions; 726 deals were conducted in the price range from AED5 to 10 million; and finally, a total of 520 sales were recorded as for properties worth over AED10 million, according to Data Finder’s statistics.
Thus, a clear example of such purchasing power geometric regression in proportion to the price increase in the off-plan housing segment suggests that investors, as well as end buyers seem to prefer less expensive off-plan housing projects, backed by generous post-handover payment plans.
At the same time, in the AED5 million plus category, the largest share of real estate transactions was provided by sales in the secondary market, the report said.
“In Dubai today there are a lot of affordable real estate projects, ready or almost ready for completion. Therefore, when they enter the market, it is expected that sales in the secondary market would definitely grow next year, as all of the today’s off-plan projects will move into the ready and secondary category,” said Lynette Abad, Director of Data and Research at Property Finder.
As for locations, the maximum of the affordable off-plan sales was recorded in the , which tops the list — as of September 30, 1700 off-plan transactions were registered there. It is followed by with 1,690 off-plan housing deals.
New projects are also actively present on off-plan plan real estate buyers’ radar. According to Data Finder, (1355 transactions), (1303 transactions) and Meydan (888 transactions) were also leading the Top as for the off-plan sales number.
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