Property values in Dubai were up 5% in the second quarter, but now the pace has slowed down. However, there is no decrease in prices as well.
According to Gulf News: “Where buyers see value, they are willing to park their investments. Motor City has been a beneficiary of this trend.”
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Various news portals report that the pace of Dubai real estate has slowed down. It was expected that after Ramadan, the market would be good. So far, this is not the case and the real estate market is stable with no decline or growth.
According to experts, this is a good sign because artificial boom in real estate is more dangerous that steady growth. Many experts report that Dubai rental market has artificial pricing effecting overall real estate growth.
Motor City is the prime area for investors to park their investment with good rental returns. Most of the inquiries are for Motor City because of beautiful community and good return on investments.
Investors are interested in value for money locations rather than luxury properties. The major areas for investors are Jumeirah Village, Dubai Sports City, Dubai Silicon Oasis, and Discovery Gardens.
Motor City contributed 7% of total transactions becoming one of the main areas for real estate transactions. Dubai Marina remaining at the top with 14% of the overall transactions.
Off plan sales are also cooled down despite of lucrative payment plans offered by developers. Investors are more interested in parking their investment in ready units where they can get good rental returns.
According to our Senior Consultants, the real estate market is much better as it was few years back. Now everything is growing and it is a positive sign for future. The only concern would be for low salaried tenants who are forced to live in other Emirates because of high rents in Dubai.
The most anticipated real estate conference City Scape Global is just round the corner and many investors are expecting a lot of positive outcomes. We are waiting for good news from City Scape Global because many real estate agents are worried that after the conference, real estate market may crash.
According to our senior property consultants, it is just a speculation that market may crash because if we look at overall economy of UAE, it is based on good foundation. We should not spread such rumors based on assumptions.
Call Bluechip Real Estate for more information and investment opportunities.