Dubai is a lively international city with stunning locales and exquisite buildings. The luxury and opulence of the desert kingdom is now a part of lore. The sophisticated architecture of the large and wide structures is a visionary's delight. The Burj towers tall stand and majestic, while the artificial islands are a breathtaking sight. Malls, apartments, villas, and restaurants dot the land and dress up this exotic emirate.
All these magical wonders would not have been possible without a mature real estate market. The dealers and agents operate in a competitive manner. They adhere to global norms and raise towering structures that can stand the test of time. Yes, there has been an unfortunate downward trend in recent years. The residential market, in particular, has its share of ups and downs. Oversupply is a big mistake, but then construction business is nothing if not flexible and enterprising.
What Do Experts Say?
Real estate developers and marketers are savvy and creative. The industry watchers suggest these feasible amendments as we move ahead into 2018 -
Buyers want high quality and the best locations at low prices. Affordability has become the key word in this context of "value for money".
Prices can be lowered only if the costs are also within limits. The builders are expected to reduce the size of upcoming apartments in many locations.
Modern construction techniques are computerised and flexible. The developers are also expected to cut down on property size.
Prime properties are a sign of luxury, and a symbol of class. However, middle income buyers can negotiate for better prices in 2018.
Construction has slowed down, but by no means has it come to a halt. Demand is expected to peak for Expo 2020 despite a few setbacks.
Affordable housing options and tenancy are expected to keep the market busy. The real estate observers also indicate to a gradual influx of new inventory.
Data Analysts Opinion
Very low rental prices were noticed since the middle of 2016.
Rental transactions have increased by 20% since last year.
Approximately 140,000 new units are coming up by the year 2020.
Prices will remain stable if projects finish on schedule, but rents may rise.
Mature, selective, and targeted market demand for the rest of 2018.
Popularity of villas has dipped, but renters are moving into the buyer bracket.