Dubai real estate: What are you buying during the pandemic?

What kind of homes are people buying during the pandemic? A recent Knight Frank Global Buyer Survey on buyer attitudes showed that upgrading the family’s primary residence ranked highest as the main reason for purchasing a property, while access to good healthcare ranked second, acquiring a holiday home ranked third and business or employment reasons ranked in fourth place.

According to the latest Dubai Residential Report from Chestertons, despite a clear quarterly rise in property sales in Q3, Dubai’s real estate market is expected to face further challenges in both the rental and sales market. Increased sales activity, which rose by 50 per cent quarter-on-quarter, was largely attributed to pent up demand from Q2, along with developer promotions offered to clear built but unsold inventory. Total transaction volume was down 21.7 per cent from Q3 2019.

Sustained price drops in the market have piqued the interest of investors looking to take advantage of ongoing market conditions in this period of reduced liquidity. But despite strong investor interest, capital preservation has been a concern for home buyers over the last few years due to sustained price softening

Source – Gulf News – Read full article here