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.
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