Investors upbeat about Dubai property market – YouGov poll
Around 60% of survey respondents expect emirate’s real estate market to grow over the next year
Investors remain upbeat about Dubai’s property sector, with 60% expecting the emirate’s real estate market to grow over the next 12 months, a survey has found.
According to findings from market research company YouGov, over half of home buyers (54%) are positive about continuing growth in Dubai’s real estate market, while 58% expect an increase in sales and rental prices over the next year.
The findings were released ahead of this year’s Cityscape Global, to be held at the Dubai World Trade Centre from September 8-10.
Location and access to amenities are significant factors in determining where investors buy property in the UAE, the survey found. According to 861 UAE residents, properties situated close to public transportation are the most attractive (56%), followed by those close to grocery stores (44%), shopping malls (41%) and mosques (37%).
It was also observed that studios and one-bedroom apartments were growing more popular in the UAE, as investors sought smaller and more affordable residential options.
“The study highlights positive sentiment across the board. Investors, potential home buyers as well as real estate professionals are expecting growth to continue in the Dubai real estate market in the coming year,” said Lara Al Barazi, YouGov’s head of real estate research.
Meanwhile, Kash Kanjwani, director at Dubai-based Sky View Real Estate Brokers, noted that stricter regulations in place are helping curb speculation. “For any mature market there has to be balance between luxury properties and affordable properties. Previously developers had tried to launch affordable properties; however, due to speculators and high demand some of these properties appreciated at such a high rate that they reached the same price point as luxury properties.”
“With new regulations in place, the speculation of properties has been controlled. Most developers are offering easy payment plans and the right pricing. Demand for affordable housing is now greater than ever.”
