Survey Shows 64% of Property Owners Plan to Sell Homes in Dubai, indicating strong confidence in Dubai real estate market.
The survey conducted by YouGov and commissioned by Metropolitan Homes provides an interesting insight into the real estate market in Dubai. The fact that 64% of property owners are planning to sell their homes is a significant figure and indicates a strong belief in the potential of the market. The high percentage of owners planning to sell within the next 12 months is also noteworthy, as it suggests a sense of urgency to take advantage of the current conditions.
The survey also highlighted the significant improvements made by property owners, with 83% indicating that they had made upgrades since purchasing their property. This suggests that owners are invested in their properties and are keen to realize a return on their investment.
The fact that 90% of respondents would purchase another property in Dubai if they sold their current one at a good premium indicates a high level of confidence in the market. This is further supported by the projection that the city’s population will rise from 3.5 million to 5.8 million by 2040, according to industry reports. This growth in population is likely to drive demand for housing, which could be positive news for property owners. The reforms implemented by the UAE government, such as the Golden Visa regulations and residency permits for retirees, are also attracting more investment into the real estate market. These initiatives are providing residents and non-residents with strong reasons to invest in the country, which is likely to further drive demand for housing.
Overall, the survey suggests that current and projected market conditions are favorable for property owners looking to sell or rent their units. This is good news for the real estate sector in Dubai, which is likely to experience sustained growth backed by favorable market conditions, a strong UAE economy, and recent legislative reforms.
Source: arabianbusiness