Amid low oil prices, Dubai’s property market is not showing a totally negative trend, there are some emerging locations which have been showing the upturn and has recorded an increased sale since Q4/2015.
In total, realty transactions were up 12% between Q3/2015 and Q4/2015. Locations like Sports City recorded 34% increase in sales whereas Jumeirah Park showed an increase of 32%. Other than this area, residential clusters including Springs and Meadows have shown an increase of more than 30%. Sale in the IMPZ community also went up 30% on a Quarter-on-Quarter basis.
It is not just in Q4/2015, the time between November 2015 and January 2016, the number of deals in Springs and Meadows have been up by 43%. Also, the sale in Jumeirah Park has increased 40%. This increase is not nationwide, it is completely location-specific.
According to Global Capital Partners MD, “The trend clearly indicates that end user demand remains steady to increasing.
If we make a quick analysis, it is evident that end-users are wishing to invest in mid-market properties if developers keep on providing various incentives. At a time when banks are not willing to offer full-fledged mortgage assistance, many buyers are putting equity to get the deal closed.
In such a scenario where end-users are looking to buy properties in Dubai, they are likely to face many difficulties while choosing the best option available in the market. Being experts in the industry for more than a decade, we understand the market and can guide you to choose the best option.
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