The market of Dubai luxurious properties is now becoming very popular among the rich people in the world. Top builders are working on new housing projects that will be priced higher than their past delivered projects
This shows that the popular developers are targeting the wealthy buyers from local and other countries to buy properties from them. This means that Dubai is going to see more and more millionaires and billionaires coming from other countries in the future.
The Properties in Dubai are very popular for their luxuriousness and because of this the work of the builders becomes more because they have to provide something new in their new projects. The other thing to see is that the investors are very much interested in the luxurious and expensive housing properties. Several things make up for a selling and buying of a property like location, demand, facilities, connectivity, and more. The sales of some types of properties like apartments are more than others like a townhouse. This is seen in the first quarter of 2024 only and may see a change in the future.
The Dubai real estate market is currently experiencing an exciting surge, reaching a three-year peak filled with exclusive and amazing deals and top performances. As we go through this thriving market, many property owners and investors are finding themselves in good situations to get high gains and returns. But the important question for you is whether it is the right time to sell now ?
This question is coming from several people who want to sell their properties in Dubai because of which there were some discussions and interest in the property market. Some professionals working in a company called Dubai Housing said that properties located in sought-after housing areas also have a collection of world-class amenities and breathtaking views. These facilities are the main reasons for the high returns on properties because people like such properties. Moreover, some luxurious properties that have been reworked, especially those available for easy transfer after its sale, stand a good chance of yielding profitable returns.
What types of properties are buyers currently looking for? Paul notes that apartments, studios, and townhouses are very much in demand. Specifically, those properties that are priced less than AED 3 million. Under this pricing there are normally 1 bedroom and 2 bedroom houses and interestingly these types of houses sold very quickly, one such example is Damac ELO. Not only this, looking into the huge demand ELO 2 by DAMAC was launched very soon to grab more buyers.
Off-plan properties are among the hot choices for buyers and investors. These types of properties, often offering flexible payment plans and appealing features, are highly sought after by investors because these can be sold later at a higher price. For example, the Evergreens at Damac Hills 2, a housing property, was half sold out within just 36 hours. According to some reports from broker companies, off-plan property sales made up 52% of all transactions in the first quarter of the year, with apartments at the top with 90% of these sales.
A broker in Dubai stated that the market conditions are witnessing unprecedented demand. The market is going fantastic for sellers. With more information available than before, informed buyers are making fast decisions to buy luxurious apartments. This means sellers who price their properties correctly and market them well can expect rapid sales. Those who don't will find buyers looking somewhere else.
There are several studies in the market which show some of the popular communities and property types that are doing very well. During the first quarter of 2024, 10,481 apartments were sold in prime areas like Jumeirah Village Circle and Business Bay, while villas and townhouses saw 2,947 units sold. Popular locations for apartment sales which includes Jumeirah Village Circle, Dubai Marina, Business Bay, Downtown Dubai, and International City. For villas and townhouses, hot spots include DAMAC Lagoons, Dubai South, and Emirates Living.
Brokers say that, With the right planning and preparation, sellers can see through the market situations and can benefit from the strong demand for properties of different types and pricing. Whether a property is a modern apartment in a bustling area or a big villa in a tranquil surroundings, the property market of Dubai is good for those who are ready to make a good decision.
If you are planning to sell your property in Dubai? Now may be a good time to explore the possibilities and make a good profit from the current market situation if you take guidance from a good professional. Dubai Housing can help you more if you want to buy or sell a property in Dubai at a good price. Remember that there are several things to look at before making any decision.
