This year Cityscape was huge and a lot of companies exhibited their projects from different countries. Many new projects were announced in Dubai during Cityscape to investors and buyers. Cityscape is a global platform to announce new real estate projects and attract the investors from all over the world.
This year’s Cityscape was a huge success bringing a lot of brand mileage and investor’s interest in new off-plan projects.
Where Do Dubai Real Estate Market Stand?
Many real estate developers and investors were waiting for Cityscape before they can make decision to invest in Dubai Property market. Now the picture is a lot clear as new projects being announced by big developers including Government plan for DWC project.
Good news is that the market for off-plan projects are going high and investors are taking interest in off-plan projects. The benefit is that after few years they will be prime and populated areas with over 6% rental returns and property gains.
The hot areas are Jumeirah Village Circle, Jumeirah Village Triangle, Palm Jumeirah, Motor City, Sports City and Dubai Silicon Oasis.
Jumeirah Village Circle is the attraction for many small and big developers because according to the predictions, the prices will be going high.
According to our property consultant, “Villa and Townhouses sales are slow as compared to residential and commercial buildings. However, the good news is that the prices are stable and no change in the market after the Cityscape”.
On the other hand, rental market sees a slight drop in prices because of more supply of buildings in the market. According to the experts, rental market was booming artificially as landlords were demanding unrealistic rents during the period.
Start of October attracts a lot of tourists from all over the world in Dubai. Many real estate companies are hoping to leverage the attraction of international buyers to their projects. Dubai Government making new policies related to real estate, which will positively reflect on the market.
The best option for buyers and investors is to do investment in off-plan projects because after completion the prices would be much higher with good rental returns.
Call Bluechip Real Estate to find out about investment properties available with us or inquire about buy, sell or rent your properties 04 395 1212