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Dubai real estate: The Price Right
Source: REIDIN , Author: Posted by BI-ME staff
Posted: Tue June 12, 2018 1:46 pm

UAE. When we look at the sub 1 million price point in the apartment space, the evolution of purchases mirrors that of the overall market; in that there is a steady progression of purchases in the off plan space (from a roughly even position in 2015 to a 1/3rd share in 2017); although in the first quarter of 2018 there appears to be a reversal of sorts as purchases in the secondary market has ticked higher as price gaps between the primary and secondary markets widened.

In the villa space, the change in trend has been even more pronounced; nearly 90% of the transactions were conducted in the secondary market in 2015; that has since halved as developers have offered a suite of incentives for the villa space in this price point in a plethora of horizontal gated communities.

Two trends are clear: 1) as you move up the price points, the ratio of sales appears to progressively lean towards the ready market, meaning that buyers have responded to the price drops and that developer incentives for the off plan market are not working as effectively. 2) where they have worked, it has been in an environment where there has been genuine value on display (As evidenced by the recent seven tides launch).

Buyers would be well served if they keep monitoring the price gaps between the primary and secondary markets as a way to ascertain the future price curve trajectory.
 
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About REIDIN
Since 2007, we have been known for being the leading provider of property data and real estate information company for emerging markets. From being the first company to offer price indices enriched with hard-to-get real estate data in Turkey and UAE, we have become a global player in Data Analytics and Data Science utilizing the most advanced AI algorithms and techniques to process large amounts of our proprietary and client data.

Today we are a multidisciplinary Data & Analytics Company helping our clients make better strategic decisions, increase revenues, lower costs, and beat competition. Among our clients are government organizations, banks, insurance companies, retailers, property developers, brokers, consultants, and appraisers.

For more information, please visit www.reidin.com

About Unitas
Unitas believes in in-depth planning and discipline as a mechanism to identify and exploit market discrepancy and capitalize on diversified revenue streams. The purpose of Unitas is to manage, direct, and create wealth for our clients.

For more information, please visit www.unitasconsultancy.com

 

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