The real estate market of Dubai has always attracted homebuyers from various countries. This can easily be understood by the last year data which shows housing sales in Dubai was the main reason behind the steady growth of the city’s property market. However, a new survey report, published recently has revealed that this momentum will remain same this year too.
As per the report, Dubai will attract more homebuyers in 2019 that will eventually lead to growth in the real estate market.
Experts have predicted that in 2019, the residential market will be going to see a decrease in property rates by 5-10%. This means that homebuyers have to pay less for inventories and hence it’s definite that end users and investors can easily purchase on their dream home. Housing prices in Dubai have remained on the downwards side from past few years leading to a growth in the residential sales and overall real estate market.
“In 2019, Dubai is going to see multiple housing project completion as well as new launch too,” Report added. All these projects were announced when Dubai won the bid of Expo 2020.
Apart from mid-level projects, luxury residential units will continue to attract hi-end home buyers. This segment will also see a decline in property rates and hence will attract more premium buyers in 2019.
Another report on the realty market of Dubai has predicted that ready to move in housing units are more favourable among home buyers as compare to under construction one. So, with greater demand, there will be more supply and investment that will eventually create a positive impact on Dubai’s property market in the ongoing year.