125% Increase in Home Sales by Emaar in 2019
The last 9 months of 2019 has witnessed an amazing spike in off-plan sales. With 7,214 sales registrations to date for this year, it is happy days for the region’s biggest developer, Emaar.
January to September has seen record sales for some of the leading developers like Emaar, Seven Tides International, Dubai Hills Estate, Meraas, and Dubai Properties Group.
So far, Emaar Properties have had the highest sales, both in the off-plan and secondary market. Thus, making them the most traded properties in Dubai’s real estate market.
Data Finder, a data platform from Propertyfinder, provided data on real estate insights, recorded 7,214 sales in the first 3 quarters of the year, which is a massive increment from the 3,212 transactions from 2018. It translates to a total of 125% more, which reflects in the rise in the buyer interest in properties built by Emaar.
“Emaar has an outstanding reputation, delivering quality homes in well-designed and thought out master-planned communities. When consumers are looking to buy property in the secondary market, these are important factors. They look for homes that have been built well and communities that offer many amenities,” said Lynnette Abad, Director of Data and Research, Property Finder.
Q3: Slower pace in Dubai Property Price Decline
Dubai is gradually moving towards a stable real estate market, as shown in the new JLL research. With a reduction in sales from Damac’s end in the last 2 years. Reports state that they are focusing on the sales of the existing inventory.
The period between January to September marked the demand for home from the top developers which resulted in the following sales figures:
2,294 sales for Damac Properties, 1,653 sales for Nakheel, 1,639 sales for Dubai Properties Group, 1,213 sales for Azizi Developments and 827 sales for Danube Properties.
Among the sales that have happened, Dubai has had a total of 18,164 off-plan sales in the residential market and 12,605 transactions in the secondary market in the last 9 months.
Off-plan sales dominated in the areas including Dubai South, Business Bay, Villanova, The Lagoons and Downtown Dubai.
In conclusion, Dubai is seeing continuous growth towards a stable market with a higher buyer interest. It is the most ideal time to invest in real estate in Dubai now.
In case you need further clarifications or professional advice regarding purchasing a property in Dubai, please don’t hesitate to contact me.