Dubai Tenants Turn into Home Owners. 91% of new real estate purchases made by first-time buyers.
Dubai Property Owners must clear all Service Fees due to Rent or Sell their property
Dubai Property Owners must clear all Service Fees due to Rent or Sell their property.
Property transactions in Dubai recorded a strong rebound in the third quarter compared to the previous quarter.
A large number of Gulf-based expats are looking to move in the next 12 months due to the coronavirus pandemic, with value-for-money their main priority when seeking a new property.
Increasingly affordable property prices in Dubai are fueling significant growth in sales activity as residential values drop towards those last seen after the global economic crisis a decade ago.
“While we expect residential prices and rents to decline further over the second half of 2020 – a result of challenging economic conditions and a declining expatriate population – there are positives to draw from Q2 that will support Dubai’s residential sector moving forward,” says Chris Hobden, head of strategic consultancy at Chestertons MENA.