Dubai’s real estate market is witnessing a trend where off-plan sales continue to rise, while ready property sales are seeing a decline. According to recent reports, off-plan sales in Dubai have increased by 9.4% in the first quarter of 2022 compared to the same period last year. This surge in off-plan sales can be attributed to developers offering attractive payment plans and incentives to potential buyers, as well as the increasing demand for affordable housing options in the city.
On the other hand, ready property sales in Dubai have dropped by 5% in the first quarter of 2022, signaling a shift in buyer preferences towards off-plan developments. Industry experts believe that this decline in ready property sales is due to several factors, including oversupply in certain areas, high prices, and a general slowdown in the real estate market.
Despite the drop in ready property sales, Dubai’s real estate market remains attractive to both local and international investors. The city continues to be a hub for luxury real estate developments, with projects like Dubai Creek Harbour and Emaar Beachfront attracting high-end buyers looking for premium properties with world-class amenities.
In addition to off-plan sales, the rental market in Dubai is also showing signs of resilience, with rents remaining stable in most areas. This stability in rental prices can be attributed to the city’s strong economy, growing population, and ongoing infrastructure development, which continue to attract tenants to Dubai’s real estate market.
Overall, the real estate market in Dubai is witnessing a shift towards off-plan sales, with developers focusing on offering innovative payment plans and incentives to attract buyers. While ready property sales have seen a decline, the city’s luxury real estate market remains robust, with high-end developments continuing to attract discerning buyers looking for premium properties in prime locations.
As Dubai continues to position itself as a global hub for business and leisure, its real estate market is expected to remain attractive to investors in the long term. With ongoing infrastructure projects like Expo 2020 Dubai and Dubai Harbour set to further enhance the city’s appeal, Dubai’s real estate market is poised for steady growth and development in the years to come.
