Consumers firmly steering the Dubai real estate
As we move into the second half of 2019, the property prices in Dubai continue to be attractive for both tenants and investors.
Based on the comparison of prices between H2 of 2018 to H1 of 2019 there is a perceivable shift in interest towards competitively-priced areas when it comes to renting, while historically more expensive areas for investments have become more affordable.
Being a consumer driven market has created an environment that is conducive for lucrative property deals, which end users appear to be capitalising on as per Bayut’s report. This is in line with DLD’s recent report revealing that real estate transactions in Dubai have gone up by 33% compared to what was seen in the same period last year.
Communities such as Al Nahda, Mirdif, Bur Dubai and International City dominate the rental market, while Palm Jumeirah, Arabian Ranches, Dubai Marina and Downtown take the lead for sales.