More Price Rise for Off-Plan Launches
We should know that because these payment plans give developers more power, they can raise the prices they offer. As a result, prices in all areas, from Ras Al Khaimah to Business Bay, are being offered at a median of Dh3,000 to Dh3,500 per square foot, even though the land prices in these areas also change.
In each area, things move in their own way, but the high demand for off-plan homes at similar prices suggests that in the background, things are moving in a way that makes payment plans more attractive.
One thing that all of these analyses have in common is the beat of happiness getting stronger. Experts have taught investors that betting against Dubai and the UAE's relentless march can be painful. But it's also true that things have a mind of their own, and when they lose touch with economic basics, there is a different thing "mean reversion" that happens. This is also something we haven't seen yet in the current US capital market cycle, even though there are more bright red signs that show differences in prices. Even though interest rates have gone down, mortgage rates have not yet gone down in the real estate market.
This way of thinking is based on the idea that buyers should know how much money they are ready to risk and that "effortless wealth generation" is rarely easy. Without a doubt, the only thing buyers can learn is how to find holes in the system. And the fact that ready sales are still behind schedule is the good sign of two likely outcomes:
As buyers try to find the better deal, there will be a choice to move towards ready-to-move homes. At the same time, the price and number of off-plan sales will drop to the line that shows a price reduction.
