Young and middle-aged people who intend to stay in Dubai on a long-term basis are increasingly choosing to buy real estate and rent it.
Executives and analysts of the real estate industry say that this trend is mainly observed among people with high salaries in their 20s, 30s and 40s who invest to insure against inflation. As a result, recently there has been a very rapid sale of recently launched projects on the market, some of them are sold out in one day.
In March, the 300 million AED Danube Properties Pearl was sold out on the first day of its launch.
A recent study by Union Square House, a real estate brokerage, says that from 2021 to April 2022, the residences of all major developers in Dubai were completely sold out and are now being sold at a premium on the secondary market.
The explanation for why buyers prefer to invest in projects under construction lies in the fact that buyers trust Dubai. Plus, prices in the emirate are much lower than in other major cities.
