Dubai real estate transactions doubled in November compared to the same month last year, registering a growth rate of 80 per cent.Total real estate transactions in Dubai (sale and mortgage only) in November 2019, the value of AED 20.5 billion, compared to AED 11.4 billion in November 2018
For their part, real estate experts said that the strong movement of real estate actions in November, confirms the optimism of the real estate investors in Dubai real estate market, in conjunction with the presence of good opportunities in the market, in addition to programs offered by developers for projects on the scheme, expecting to see Trading is more positive as the countdown to Expo 2020 Dubai begins.
Real estate dispositions
In detail, data showed that the volume of real estate transactions increased by 80% during the month of November, compared to the same month last year, recording a value of 20.5 billion dirhams, compared to 11.4 billion dirhams in November 2018.
In November, transactions amounted to AED 11.4 billion (mortgages), where 1643 mortgage transactions and AED 9.1 billion (sales) were conducted through the completion of 4881 transactions.
Positive movement
Abdulkarim Al Mulla, CEO of Standard Real Estate Management, said, “The real estate market has witnessed a positive movement in the last two months in terms of sales for ready-made properties and selling on the plan. Those who want to buy in the real estate sector, from waiting to actual decisions to purchase, citing several reasons, including good market prices, facilities by developers, in addition to the countdown to Expo 2020 Dubai, which indicates that the current opportunities In the market of a Possible to shrink in the future, with attention turning to Dubai, where it is expected to receive real estate market many investors during the International Exhibition ».
Marketing strategies
Firas Al Masadi, Chief Executive Officer of FIM, said: “Investment in real estate is a big step towards financial independence as real estate retains its value.” In addition to the fact that many developers have developed marketing and sales strategies that meet the needs of the dealers and the market conditions.
He pointed out that the facility of repayment over relatively long periods is one of the most important factors in the interest of revitalizing the real estate market.
He pointed out that there is optimism among investors in the market, with good opportunities for investment supported by the process of price correction during the last period, expected to see a positive movement during the new year, in conjunction with the organization of «Expo 2020 Dubai», in addition to special advantages Dubai's real estate market, notably the high return on investment, is expected to attract more foreign investors to the property market.
New Projects
Walid Al Zarouni, CEO of W Capital Real Estate Brokerage, said: “New developments for developers and the facilities provided by them have contributed to increased sales, especially with regard to the sale of the scheme, in conjunction with the trend of many financial institutions to The expansion in mortgage lending has also been reflected in the mortgage movement, which has been booming this month.
He pointed out that there are a lot of opportunities in the market now, which led many to start making real decisions towards real estate investment, and was recorded through the transaction numbers in November, which is consistent with the movement of actions last October.
He pointed out that many developers have contributed to stimulate the sales movement, especially with regard to projects on the scheme, through the programs that have been put forward with regard to the first installment and bear fees and services and the duration of the repayment, and financing, there are a number of companies resorted to self-financing to pay Sales wheel for their projects.