First-time buyers made up 66 percent of the total investors in the Dubai real estate market for 2018.
Dubai’s property market presents good conditions for buyers, investors and renters alike, said the Q3 2019 market report from property website Bayut.
A recent Dubai Land Department (DLD) report confirmed the value of real estate transactions in the emirate has grown by 12 percent in 2019, compared to the same period last year.
Communities such as Palm Jumeirah, Dubai Marina, Downtown Dubai and Jumeirah Village Circle are at the forefront for sales, while established areas like Al Nahda, Dubai Marina, Mirdif, Bur Dubai and Jumeirah lead the rental market.
Based on the comparison of prices from Q3 of 2019 to Q2 of 2019, there are moderate declines in average price per square foot across the board for properties on sale.
However, suburban areas such as Dubai Sports City and Dubai Silicon Oasis are gaining traction with investors, and have experienced only minor price decreases.
This trend chimes with the rising demand for cost-effective properties, especially from first-time buyers, who made up 66 percent of the total investors in the Dubai real estate market for 2018 as per DLD’s findings.
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