Where the global economic environment is unstable and uncertain, Dubai has yet again proved its potential and managed to maintain its strong appeal. Being in line with the vision of our leader H.H. Sheikh Mohammed bin Rashid Al Maktoum, the increasing infrastructure spends on projects leading to the Expo 2020 has led to a surge of investors and individuals in the Dubai Real Estate Market.
Dubai witnessed a 25 percent increase in activity compared to the same quarter last year. This revival in transactional activity added to a total value of AED 77 Billion with 20,000 deals in Q1 2017. The rate of decline has slowed down across all sectors of the Dubai real estate market, suggesting increasing stability and the expectation of market correction before the end of 2017.
The market has witnessed a positive movement towards residential transactions and a major reason for this being the friendly payment plans created by the developers along with exceptional prices that are in accordance with the buyers. Off-plan sales accounted for the majority of total transactions in Q1 2017 indicating a surge of investor activity. Most of these projects offer a variety of amenities and great locations that have attracted the attention of potential buyers. These projects are affordable and therefore appeal to the mid-income groups or the ones with lower budgets.
2017 will witness the launch of more affordable projects that will cater to both the investors as well as the end users. And if you haven’t already jumped on the boat of property investment, the ideal time is now. Watch out for key developers and projects, as this is the year of achieving great ROI on your investments.
Ahid Shaikh Mohammed
Deja Vu Real Estate