Dubai's ready property sales market set for an upbeat second half of 2020, says Appello Real Estate

The brokerage firm has seen an approximate 40% increase (YoY) in buyer enquiries for ready property - notably in fully completed, community-oriented Dubai neighbourhoods

  

Dubai UAE: As we enter the second half of a tumultuous 2020, Dubai’s ready property market nonetheless looks on track for a buoyant H2 – according to internal projections by leading UAE real estate firm Appello Real Estate.

Despite the regional impact of the Coronavirus, this segment of the market has been seeing signs of upward movement in the last six months – and according to the Appello CEO, Naval Vohra, this is a trend potentially on the brink of a surge.

“An interesting side effect of so much uncertainty right now is that buyers appear to be psychologically and financially drawn to inventory that is complete – a pristine finished product they can touch and feel and enjoy,” said Vohra.

He points to strong recent examples of the direction things are headed, such as master developer Nakheel raking in Dh223 million from March to May for luxury villas in locations like Al Furjan and Nad Al Sheba.

Al Furjan’s four-bedroom villas and three-bedroom townhouses come with a community cycling track, swimming pool, nearby parks and a retail centre. Similarly, the gated Nad Al Sheba villa community offers four and five-bedroom villas in an area with a jogging route, cycling track and sports club.

Another key example Vohra points to is Dubai mega-project Town Square by Nshama which continues to see an uptick in inquiries, with the developer reporting around 800 people moving in since January, even with lock down going on.

Town Square has a range of properties and boasts the Town Square Dubai Recreational Park – a lush green area with a basketball court, skate park, Wave Rider, football pitch, kids play zone, outdoor cinema, and a trampoline park.

“The success of these three primary examples direct from the developer backs internal company stats we're seeing that ready property in an enticing environment is where it’s at right now – and where it’s going to be at in H2,” explained Vohra.

"I would add that sales of villas and townhouses for ready property in the secondary market is also significantly on the rise."

On the buying side, in H1 Appello Real Estate has seen an approximate 40% increase (YoY) in enquiries for ready property, notably in fully completed, community-oriented Dubai neighbourhoods.

Another trend Appello reports is that the percentage of end user buyer enquiries is going up.

“People are yearning for homes they can enjoy now in 2020, with green space on their doorstep, human interaction, a sense of wellbeing – and who can blame them?” adds Vohra.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases