What real estate do buyers choose during pandemic guide, Dubai home location tips, UAE online property advice
What real estate do buyers choose during pandemic
22 Sep 2021
What real estate do buyers choose during the pandemic
It is well-known that Dubai is the most popular metropolis among investors and expats. Wealth, luxury and comfort, as well as property to buy in Dubai attracts people around the world. However, in 2020 the world was shocked by COVID-19 and the real estate preferences has changed. What kind of real estate do people buy during the pandemic? Knight Frank found that home improvement is the main reason for buying a house, while good health care comes second. A vacation home takes the third place.
Situation in Dubai real estate market
Survey respondents, who want to buy a property abroad, said that their decisions will be influenced by the prevention of COVID-19 crisis in the country. Therefore, the UAE is highly valued among buyers.
According to reports of Core Middle East, about 21,500 houses were put up for sale in Dubai between January and September. A further 10,500 development projects are expected to be commissioned in the last quarter. According to Chestertons, the Dubai real estate market is likely to face further price declines in both the rental and sales markets. The increase in sales activity by 50% occurred due to deferred demand. The total number of transactions decreased by 21,7% in comparison with the third quarter of 2019.
Chris Hobden, Head of Strategic Consulting at Chestertons Mena, said: «The transaction volumes are falling year-on-year. The economic impact of COVID-19 and the decrease in the emirate’s population, which are major factors in the price growth in Dubai, may worsen market indicators».
What buyers choose
The behavior and preferences of buyers have changed as a result of the pandemic and isolation. The demand for townhouses and villas has increased. Homeowners are willing to invest in great views for outdoor spaces in the form of courtyards and terraces, which has led to an increase in requests for villas in 2019.
Nowadays, Noor Townhouses in Townsquare, Pacifica in Akoya Oxygen (Dubailand), Casa Dora (Serena) Villas by in Dubailand, Maple 3 in Dubai Hills Estate and Arabella 2 in Moudon (Dubailand) were also put up for sale.
A lot of new real estate has appeared in such projects as Rawda and Hayat Boulevard in Townsquare, Merano Towers in Business Bay, as well as in the Boulevard Point in the center of Dubai Downtown and One JBR in JBR.
Assistance in buying real estate in the UAE
It is better to choose real estate in the Emirates with professionals. Ax Capital will give you information about the resorts. You will be able to make your choice.
Find an ideal place in the UAE today!
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Mosque of the Late Mohamed Abdulkhaliq Gargash, Um Suqeim Road, Al Quoz
Design: Dabbagh Architects
photo courtesy of architects office
Mosque of the Late Mohamed Abdulkhaliq Gargash in Dubai
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