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Dubai Real Estate Market: Busy First Quarter with Price Increases
三月 13, 2024
Dubai Real Estate Market: Busy First Quarter with Price Increases 迪拜
By   Internet
  • 都市报
  • Dubai property market
  • first quarter housing market
  • Dubai property
  • price rise
Abstract: The Dubai real estate market experiences exceptional activity during the first quarter of each year. During this time, buyers aim to kick off the new year by finalizing transactions on desirable properties, while tenants begin evaluating their plans for the coming months. It is during this post-holiday period that we also start to see property prices soar.

Sellers who are less active during holidays or anticipate less activity take advantage of this opportunity to increase their asking prices, capitalizing on the increased demand. Whether it's Christmas or Ramadan, we see this cycle following major seasonal events, particularly after the summer.


However, the current market conditions are different. While some may expect real estate activity to slow down during holiday periods, the overall property market activity in the city remains at a healthy level. Although some buyers and tenants may be less active during any seasonal cycle—for example, they may choose to travel during the summer—overall, the Dubai real estate market remains very active.


Another common misconception we find ourselves dealing with is that prices drop during holiday periods and Ramadan. While individual sellers may choose to lower prices due to anticipated lower inquiries, this does not reflect the overall market trend. In fact, buyers and tenants may enjoy some discounts during holiday periods, especially in the off-plan sector. For example, during Ramadan, many reputable developers lower entry barriers or offer attractive payment plans. This presents a great opportunity for investors to find more flexible purchasing options.


Dubai Real Estate Market: Busy First Quarter with Price Increases

gulfnews


However, there are no "holiday discounts" in the secondary market. Nevertheless, buyers can benefit from reduced competition for the same property. This means they have more negotiating power, but don't expect to see uniform price decreases.


All these factors ultimately result in price increases once the season ends. Buyers who temporarily left the market are now back, and there are always new buyers entering the market, leading to a significant increase in demand.


Especially in the premium and super-premium segments, shortages in supply have emerged. Combined with the growth in demand, this creates a dynamic that any savvy seller cannot ignore. This situation typically occurs every January and September, and I believe next month will be no exception.


However, for capable and serious buyers, price increases will not deter them. Instead, this may elevate the average transaction prices in certain communities. The more realistic scenario is that these price increases benefit individual sellers but do not trigger new pricing trends.

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Dubai Real Estate Market: Busy First Quarter with Price Increases
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