The new buyers can now consider this year as a suitable opportunity to buy new properties in Dubai because the price of the luxurious properties will remain stable for months according to the professionals working in companies of luxurious properties.
Apartments and Studios are among the popular types of properties that are bought in huge numbers every year and the prices of Apartments or Studios are also predicted to remain flat for the year 2024.
The builders in Dubai who are selling their luxurious housing projects saw a huge jump in sales of around 35 percent more in the year 2023 and they are expecting the same for this year (2024) also. The amount of sales is more than AED 41 million which is a lot.
So it is a favourable time for the buyers who are looking to buy lavish properties for their use. Not only this but some builders also provide attractive payment plans for buyers which can be paid easily till the possession of that particular property. The reason for the more and more launch of studio apartments is because of its huge demands where the cozy with deluxe facilities attract a huge number of buyers towards these studio projects launched by well-known builders working in Dubai
As we have discussed above, the sales of apartments and studios are more than other properties. According to a real estate company many buyers are willing to buy new properties, 60 percent are looking for apartments and the rest 40 percent are looking for townhouses and villas.
Some reports of 2023 also showed that among the sold properties by the builders in Dubai, the sales of studios and apartments were more than other types of luxurious properties that were sold during the same period. Looking into this the supply of studios is also increasing by the builders like Binghatti and Danube. It is also popular because it is easy to rent out studio apartments. The properties that are compact and easy to maintain are normally in demand for rents. The percentage of sales of apartments is more than 50 percent during the year 2023
The situation of rents in Dubai is also looking very good where around 66 percent want to stay in a furnished house. Among the people who are looking for houses on rent want to live in one and two bedroom apartments
There are several places in Dubai, like Palm Jumeirah and Dubai Marina, where most of the property action is happening. These areas are where over half the sales and deals are going down..
The luxurious properties that are ready to live in are selling very smoothly. These types of properties make up more than half of the sales and their price has gone up by 10% compared to last year but one thing to notice that this rise may slow down.
Dubai Marina, Downtown Dubai, and Jumeirah Village Circle are some popular locations where people like to buy new properties. For bigger places like villas, Dubai Hills Estate and Palm Jumeirah are top choices for the buyers.
The big professionals at a real estate company are pretty upbeat about how things are going. They are expecting even better days ahead and stress how important it is for people to make smart choices when it comes to property.
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