This year has become the year for real estate investment. This has been a development that is much-predicted over the years. It is finally here as a year where property prices start to look up again. July 2017 shows the biggest off-plan investment month on record. The 1,719 off-plan apartment transactions shown up to 28th July are a record in themselves. As the month finishes, we could see this rise significantly. Now the Dubai property market thrives on the number of off-plan investments. This record month shows that good times are ahead.
Growth in many areas of Dubai
Another promising aspect of this is that the numbers are in different parts of the city, not centred around one region. The areas that have the most investment are:
It is comforting to know that the growth in off-plan investment is happening across the city. This is a sure sign of solid growth for the future. The Dubai Land Department shows the figures for off-plan investments and July has been a revelation. The fall in transactions over the last 3 years looks to be a thing of the past.
Why is this happening?
Strategically the reasons for this trend are many. The fact that entry level prices are low, coupled with the excitement over Dubai Expo 2020 could be major factors. The Expo will bring around 25 million people to the city over the course of the year. This is seen as the prime time for investment in the Dubai property market. It is seeing rises in jobs, interest and transactions. The Dubai property market receives an encouraging stimulus after several years of stagnation. People can see it as a global property hub again. The money invested in Expo 2020 will only add to that feeling.