What to choose: ready-built or off-plan properties? Reasons to invest in ready-built real estate. Help to choose an ideal property.
Real estate transactions in Dubai in October again broke records, as in all previous months. What will close the year with? Buyers of real estate overwhelmingly prefer houses, where you can immediately move.
Bigger houses, more greenery and more space for outdoor walks. In the Dubai real estate market, the focus in buyers’ preferences has now shifted to these vital conditions. The growth of real estate sales in Dubai continues. Besides, real estate transactions at the end of October in terms of quantity and value have already significantly exceeded everything that the housing market has achieved for the whole of 2020. The current year has eight more weeks to achieve even better results.
By the end of October, real estate transactions in Dubai were 63.4% higher in total value than everything that was sold in the emirate for the full year 2020. In terms of the number of transactions, they have grown by almost 40%, according to the latest statistics from the Property Finder consulting company.
Why is it profitable to choose an off-plan property
You can buy an off-plan property during the planning or construction phase. Usually, investors prefer to buy off-plan projects due to the flexible payment plan and hoping for a capital appreciation and high ROI after the handover. The ROI for off-plan projects can reach up to 10%, the return rates depend on the location and how prestigious the property is.
Coming to the UAE these days is an opportunity not only to fall in love with this amazing city of the future but also to buy properties for sale off plan in Dubai.
Most buyers these days want their homes to be ready or almost ready to move in, so 62% of total home sales this year come from the secondary market. In October, 60% of all transactions were for secondary/ready-built real estate, even though more and more developers started launching new off-plan projects and sales in current projects. In the off-plan market, 2,133 properties were sold for a total of AED 4,400,000,000 (USD 1,200,000,000), while in the ready-built housing sector, 3,219 transactions brought sellers AED 8,720,000,000 (USD 2,370,000,000).
«During 2020, developers have decided to focus primarily on completing existing projects rather than launching new ones», said Linnette Sacchetto, Head of research and data at Property Finder. «This focus has led to a significant number of properties being completed and ready just in time when the demand for ready-built real estate from investors has grown significantly».
Our assistance in buying real estate in Dubai
Emirates.Estate real estate agency will help with the selection of ready-built and off-plan projects in Dubai for profitable investments. Agents are also ready to find housing for permanent residence or seasonal recreation. You can get acquainted with the pricing policy of the market in real time. The database of objects includes apartments, flats, villas for every taste and budget.
Ask for help today — and tomorrow you will get the best property options!