Construction of real estate worth up to 1 million dirhams (272,300 USD) has intensified in the Dubai property market. In this way, investors try to convince tenants to become buyers.
There are a huge number of potential buyers in the Dubai market. They are waiting for mortgage rates to drop to at least 4.5% or for affordable properties to come on the market.
According to a new report by Reidin-GCP, investors have previously focused on creating residential projects priced at 2 million dirhams and above, as such properties qualify under the “Golden Visa” program. This is believed to be the best way to meet demand. But now they changed tactics.
Sales under construction in Dubai continue to grow. This is also due to the fact that entrepreneurs offer low down payments and installment plans.
„Jumeirah Village Circle and Sobha Hartland are two areas experiencing particularly strong sales in the construction phase,” said the Reidin-GCP report. “These are two projects with simplified payment plans, which has led to an increase in transactions.“
Sales of residential properties under construction in Dubai increased by almost 30% in the month of May compared to April this year.
One of the leading real estate agencies in Bulgaria - Luximmo, also offers full service to Bulgarian clients to buy properties in Dubai. Dozens of current offers from the market are available to our compatriots, as well as a professional Bulgarian property consultant in Dubai, who takes the clients on site and assists them in the entire process.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE