The UAE real estate market is witnessing a major shift in buying behavior as a result of the Covid pandemic.
If you plan on investing in the real estate sector this year, you may have to decide between investing in an off-plan property or ready to move in property.
There are more options for purchasers as a sizable price difference begins to appear between residences purchased on the secondary market and those sold off-plan in Dubai.
Offplan projects are sold at 15-50% higher than comparable ready units. With an increase of a staggering 46% from a year ago, the average price for one-bed off-plan apartments introduced during this time is Dh1.2 Million. Data from DXBInteract.com show that the price of a ready apartment only increased by 14% to Dh1.1 Million.
For end-user buyers, the surge in offplan launch prices will be a bit of concern
As a result of the sharp increase in mortgage rates since the beginning of the year, purchasers will need to go elsewhere in order to lower their entire financial commitment.
Scouting for a property to buy in Dubai? If you are thinking to buy a ready to move in home and turn it into an investment, let the experts from HRG Investment guide you in making the right choice for your investment.
Schedule a meeting today!