Sales of affordable housing units in Dubai surge

One of the interesting trends that dominated Dubai real estate is the increased number of affordable houses sold in the year 2019. As the latest data shows, properties priced below Dh1.5 million are seen to dominate real estate transactions in Dubai.

Statistics show that there have been almost 18,900 affordable houses sold from January to September. If you compare that to around 17,000 for last year’s same period, that’s an increase of 10.9 percent.

Experts have identified some reasons behind the trend, which are:

  •  Growing young population 
  • Increased number of bachelors 
  • Increased number of small families 
  • Better deals and flexible payment options for investors 
  • Correction in prices
  • Decreased average property prices 
According to the ValuStrat’s head of real estate research, Haider Tuaima, the trend will continue for many years because of the high demand for affordable housing. Not only that, but their research shows that current prices have been the same as of 2012, bringing prices to an all-time low in a decade. As a result, more and more people from the Northern Emirates are considering to move to Dubai.

To give you an idea of how affordable housing compares to more expensive properties, check out these figures:

  • 6,888 properties priced between Dh1.5 million to Dh 3 million sold. 
  • 2,196 properties priced between Dh3 to Dh5 million sold. 
  • 726 properties between DH5 million to Dh10 million sold. 
  • 520 properties worth more than Dh10 million sold. 
These figures cover January to September of 2019. If you want to get more details about these data, speak to experts, learn more about “what is broker” and how they can help you.

...read full article


Interested in Real Estate in Dubai?


Check out some informative articles below:
For inquiries contact or visit us today!
Location: Dubai - United Arab Emirates

Comments

Post a Comment

Popular posts from this blog

Freehold Vs Leasehold Property In Dubai – All You Need To Know

Image
  If you’re planning to invest in   real estate Dubai , it’s best to know and understand the different types of properties that you can acquire. Knowing the difference, no matter how simple can help you decide on which type of property is more suitable for your intended purpose. What types of property can foreigners acquire? Foreigners and ex-pats may acquire properties in designated areas in Dubai. They may opt to buy a leasehold property or a  freehold property Dubai . Leasehold properties Buying a property on a leasehold basis will allow you to obtain property rights for a fixed term, a maximum of 99 years. However, if you do not buy the property’s land, the ownership will remain with the freeholder What are the pros and cons of buying a leasehold property? Advantages Since ex-pats and foreigners in Dubai are not permitted to own properties on freehold in non-designated areas, buying properties on leasehold provides more options regarding the price and area selection. ...
Read more

Dubai Metro Celebrates 10 Years

Image
It seems like it was just yesterday when the Dubai Metro first opened its doors to the public. Now, this year marks its tenth anniversary. Looking back, as one of the most ambitious projects in UAE’s transport system, it has boosted the country’s economy, increased the value of  Dubai properties , and supported sustainable growth throughout the past decade. Dubai Metro was launched on the memorable day of September 9, 2009 (9/9/9), Wednesday, at exactly 09:09:09 PM. It was headed by Dubai Roads and Transport Authority (RTA). As a special government project, The Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, graced and inaugurated the Dubai Metro, which signals a new era of the UAE’s unstoppable economic prosperity. Initially, Dubai Metro started with the Red Line , which runs from Jebel Ali to Rashidiya. It spans over 52km with 29 stations. Four of them are located underground, 24 are elevated, and one is o...
Read more

Are Apartments Still A Good Investment?

Image
Do you want to buy an apartment in Dubai? Do you wonder whether this will be a good investment or not? Are you worried that you might end up losing more rather gaining something? If yes, then make a sure investment by considering the properties featured on this post. Get to see a list of apartments for sale below and in the process, you will learn why these apartments are a good investment. Fully Furnished Studio in Liberty House DIFC Located in Dubai International Financial Centre, this apartment is strategically located in the heart of the city. Liberty House has 42 floors and it consists of high-end offices and luxury residential units. It’s a great investment because it is already fully furnished. It comes with king-size beds, love-seat-sofa, coffee table, side table, full-length mirror, reading desk, and a lot more. A balcony is available for you to enjoy the city’s skyline. More importantly it is one of the most sought after areas in Dubai and will hardly lose any ...
Read more