Dubai’s property market has come up with a fourth successive month of improved sales, both on off-plan and ready units. And with enough prospective buyers out there, developers in Dubai — government-owned and private — are feeling emboldened to test the markets with more launches.
These are the numbers they will be looking at — at the end of April, 6,360 new homes were sold off-plan, which is a 6 per cent gain on the same period last year, while ready property made up another 4,436 units, on par with what happened last year. The data, provided by Reidin-GCP, shows that among the freehold locations, Dubai Hills Estate (with 875 off-plan registrations) and the Downtown (with 692 units) were the most popular picks in these four months.
So far this year, developers have managed to pull in first-time buyers into the market, whether for their own use or as investors. But market sources say that the rise in demand for off-plan has not come at the expense of ready property sales. By any yardstick, 4,436 new homes in four months is quite a solid set of numbers.