The prime resort of the United Arab Emirates shows a record once again. Now, this concerns both the demand for housing and the number of properties for sale off-plan in Dubai UAE. The record number of construction sites that will soon be brought into operation allows buyers to easily choose exactly what they like best.
Rebirth of the Dubai market
The housing property sector is gaining strength according to Expo 2020 opening. The specialists of the consulting agency Core inform that this year the amount of commissioned construction sites will break a new record.
According to the company, 37,000 residential properties will be commissioned in Dubai by the end of 2021. This is the largest annual volume over the last 10 years, and this opportunity occurred thanks to the return of investors.
Real Property Report 2021
According to the Core Dubai Market Update report, developers have delivered more than 24,000 properties over the three quarters of this year. Another 13 thousand will be commissioned until December inclusive.
The statement also explains that apartments still dominate in the supply sector in Dubai’s new builds, amounting to 86 percent of the total commissioned sites over a 9-month period in 2021. Apartment prices have increased by 2% over the year.
The statement also contains data on the main and largest housing project designs that have been brought to operation over the past year. They are Tiara United Towers, Artesia, Bloom Heights, and 52-42 in Dubai Marina.
Increase in prices for villas
Experts also inform that detached houses show an increase in prices. This is explained by the fact that the number of cottages is much less than the current demand desires. The price of villas has changed by + 16%. The increased demand for this category is explained by changes in the post-COVID time: detached housing with its own plot began to interest buyers more than it had been before the pandemic.
However, new villa project designs were also presented to the world. These are Akoya Oxygen and Villanova, both in Dubailand. Also, the new projects are Club Villas in Dubai Hills Estate. New villas have appeared in Jumeirah Village Circle, Mohammed Ben Rashid City, Business Bay, and more project designs are expected to appear in these same areas in the next few months of 2021 and 2022.
The off-plan real property
The analyst report also informs that despite the undying interest of buyers in the secondary market, the off-plan properties will continue to take on momentum and will soon regain customers’ confidence, as it has been before the pandemic. Already, more new-builds are being bought than it was a year ago: the positive dynamics in this comparison was 18%.
Assistance in the selection of housing in the UAE
If you want to buy real property in the UAE, we recommend you to contact Ax Capital: the experienced specialists of the company will take into account your preferences and promptly select a residential or commercial real property in a location suitable for you. The agency will help you get all the paperwork done and provide transaction support if required. Contact the company today to find the best variants on the real property market in Dubai or another city in the United Arab Emirates tomorrow.
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