Residential and Educational Sector, Dubai Real Estate Market
Last Wednesday 4th October, Exclusive Links Managing Partner Zarah Evans was a guest speaker at the Cavendish Maxwell Breakfast Briefing at The Address Hotel, Dubai Marina. The other panellists were:
Mark Ryder, Specialist Advisor - Education, Cavendish Maxwell
Jerry Parks, Partner, Taylor Wessing
Muhammed BinGhatti, CEO Binghatti Developers
The sessions were opened with a review of the Residential Market in Q3 and an insight into the quarterly report compiled by Cavendish Maxwell and Property Monitor.
Zarah's contribution was centred around lower-priced inventory entering the market and the supply and demand of affordable housing versus luxury properties. She also discussed the shift of more homeowners entering the market and their preference of buying off plan or secondary stock. "The figures that we are seeing in Exclusive Links are being supported by the industry figures showing 75% of our buyers today are buying off plan" Zarah confirms "The DLD reported that for property transaction in Dubai, the value of mortgage transactions increased from AED60m in the first six months of 2017 from AED48M over the same period last year".
Mark Ryder gave a great insight on the current education market and how Dubai is making steps on improving the quality of education in the Emirate.
Zarah went on to say "After raising two children here in Dubai as a working professional in the Real Estate I was just so surprised to hear of the synergies between the Education and RE Industries. Hearing words like supply & demand, fees, saturation, consolidation, competitiveness, requirements for good professionals, gaps, continued maturity - I didn't realise there were so many similarities in the challenges facing both sectors".
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