Whenever you purchase a property for sale there are two valid options in the market, either ready to move or off-plan projects in the real estate market. However at the end of the day you as a buyer will choose the best units which suits you. Sometimes the best units are not the facilities or amenities in the project. Sometimes the best units are about having the slight edge on other homebuyers.
By having a slight edge is to add ask yourself: What makes this unit special or what is the main selling point for this unit? You can think how I can have a slight edge over my competitors to have a better unit. So I can have better rents, better resale price to have profits off my investments, or do I have a slight edge on my payment plan as well.
At FazWaz Real Estate Dubai we have looked at data collected during the month of May 2022, to summarize the real estate market in Dubai and what to predict can happen in the property market in the United Arab Emirates.
May 2022: Dubai Real Estate Market Overview
Total transaction or the total number of properties for sale in Dubai accummating to 6,720 transactions. The number of transactions is calculated of both ready-to-move-in and off-plan properties for sale in Dubai. Compared to the total transaction of May 2022, saw an increase of 53.2% in May 2021.
We breakdown the number of transactions from May 2022 vs April 2022, the total transactions decrease slightly by 3%. There is no point of concern with the uptrend in the property market. However, the 3% decrease is because of UAE amended residences visa law during the month of April.
Should I Buy an Apartment, Villa, or Penthouse in the UAE?! (I Don’t Know)
For one the region of Dubai is slightly small. If you want to compare the landmass of Dubai, it is very similar to Singapore. Never let how small the city-state is to fool you. Sometimes something small packs a real big punch. United Arab Emirates is the big punch. Especially in Dubai dubbed as “The Luxury Capital Of The World”. So now what are the trends of property types in May.
The city-state is known to have posh and lavish high-rise residential buildings. It is still true to the present day. May 2022 saw an increase of 61.6% of sale transactions in apartments. Homebuyers and real estate investors prefer to buy apartments in Dubai. A total of 4,725 sales transactions occur during the month of May 2022. According to statistics, to buy apartments in Dubai is at 70.13%. Compared to April 2022 sales transaction of apartments increased by 6%.
