There have been a good number of sales in the property market during the months of July and August 2024. People from all around the world are attracted towards the beautiful buildings found in a big city like Dubai. The builders are now making houses that are very much demanded by the consumers.
Some areas of Dubai are popular for buying modern properties like apartments and townhouses because of their attractive pricing and modern amenities that these properties come with. The builders are making modern houses that can attract those people from other countries who are looking for a property in a different place like Dubai.
There were more number of sales of properties in August than July which shows that builders are making a lot of new properties and completing their past projects. The brokers who are working in Dubai are saying that the rental price has also increased this year. Another thing to see is the increase in the price and number of new properties from big builders of UAE.
The people from countries like India and Europe are much attracted towards the housing properties. This is because of the luxurious designs and modern facilities that are given with the houses. Some brokers who are working in the property market of Dubai are saying that after a few months there may be a slowdown in the prices of the properties that have already been given to the buyers and are being built.
The rich people in the world are looking for houses that are coming with modern services for a comfortable lifestyle in a popular city in the Middle East. The pricing of the properties in Dubai are much more attractive than other cities in the world like London and New York. Some developers like Danube Properties are providing offers like 1 percent payment plan which have grabbed the attention in the market.
The time given by the builder to build a new property is around 3 to 5 years and if a project is luxurious then it may take 7 years also. So the rich people try to buy a house quickly before a project is delivered to get more profits from their property purchases. This is because the price of the properties in Dubai normally rises by around 5 percent or more every year which means that if a person can sell or rent out the property at high prices if he/she has bought that property from the start.
The month of August and start of September has also seen a lot of houses that are being sold at higher prices but people are willing to pay more. This shows the demand is very much and the builders are also ready to increase the supply of houses to meet the demand. Not only this but the companies who are making new properties want to grab a huge number of customers to increase their profits.
The world has changed and trying to do things more comfortably after the Covid. This pandemic has shown the world that people should make places or rooms good for working and doing office work because of which builders are now making properties that are work friendly and have a separate room that is like an office.
In the second half of 2024, the demand for houses in high-rise buildings have also increased and some of the popular builders are making tall buildings according to the needs and liking of the buyers. People are now wanting to live in a tall building like the Burj Khalifa which is now filled. So, properties like Danube Bayz 102 and Danube Oasiz will be a good choice for those who like to live in the sky. Buying apartments in Dubai is becoming profitable for the investors because more and more people are looking to live in cosy or 2 bedroom apartments for its easy maintenance.
Another good thing is the opportunity to get good returns and rental yield from these types of high rise properties because a lot of people from other countries come to Dubai for different things like to enjoy holidays or to look for a job. So, the demand for houses on rent is increasing by huge numbers. This also shows that the commercial market of Dubai is also doing well. For a few years the property market has seen some changes in the making of new houses where builders are trying to give a modern feel to it.
The popular brokers are also saying that the price of the properties that are new will increase till the end of this year. Those who are looking for a luxury lifestyle in Dubai are more interested in buying houses that are ready-to-move-in because these types of customers can not wait for long and money is not a problem for them. Now, we all know why big builders in Dubai are trying to finish their new projects quickly because to grab a huge number of customers who want to move to this city of Dubai.
The popular builders in UAE are studying the market to attract rich people in the world like in India. Builders are also working on sustainability in their projects and planning to include in their designs. They are working on a large scale to find something for a green future of the world. Some are working with other companies and the government to lower their environmental impact. But one thing to see is that the luxuries and beautification is also being provided and the properties have systems that use less electricity.
City like Dubai is busy with a number of activities in the property market. Some big builders are working on their new projects that can attract buyers from other countries who want to live in Dubai. Properties that are modernly planned like the other popular cities in the world are doing well in sales. A good number of people are also looking for properties that are smaller and costing less than other big properties given in the same place.
Dubai is a popular place and now the world knows how it is a good place for property investments. But not all things are good in the property market of Dubai because there are some predictions that the sales of the properties will slow down in the coming year because the supply of properties will be more than demand. This extra supply of properties is expected to remain unpurchased for several months but will get sold after the demand again rises.
Another thing is that a good number of investors are attracted towards the properties that are located in prime locations or built by popular and big builders like Damac Properties, Binghatti Developers, Sobha Realty, Emaar Properties, and more. People like to invest in properties made by these companies because there is a better chance of getting rental yields or ROI. From here we know that popularity also matters for the sales of the properties in cities like Dubai.
The big builders of UAE are now working on making plans to attract the rich people from those countries who are showing more interest in costly and luxurious properties in popular locations of UAE like Dubai, Abu Dhabi, Ras Al Khaimah, and Umm Al Quwain. For the past few years, Dubai has become a hub of people from India where a huge number of Indians are living and working in this city.
