Dubai Real Estate Market in 2014
The festive season and end of the year always see a slight drop off in the market.
This year Dubai Real Estate activity has softened a little earlier than expected due to a few contributing factors:
We have seen developers launch some major off plan options into the market. Emaar announced their 30 year project Dubai Creek Harbour with 2 two towers launching almost every weekend. The low mortgage caps and high transfer costs have not relaxed at all and of course there is the aftermath of the Dubai World Expo 2020 win.
Savvy investors worldwide know the benefits of investing in property around an event, however they are up against high inflated prices and Sellers reluctance to negotiate or drop their prices from what they were achieving in 2013. The market is indicating a 10-20% difference in what Sellers want and what Buyers are willing to pay.
As leaders in the market, Exclusive Links want to broker healthy activity but we do expect to see a levelling in sale prices in the months to come.
Properties priced out of the current market will have to consider reduction in order to sell. Investment money is not as readily available and geographically we are surrounded by political troubles.
In saying that Dubai is one of the most dynamic and rapidly growing cities in the world and supports a market that most countries only dream about.
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