{"id":1791,"date":"2023-09-18T10:22:10","date_gmt":"2023-09-18T08:22:10","guid":{"rendered":"https:\/\/clemenceaurealestate.com\/dubais-pre-sale-real-estate-sector-clearly-dominates-the-property-market\/"},"modified":"2023-10-11T13:54:25","modified_gmt":"2023-10-11T11:54:25","slug":"dubais-pre-sale-real-estate-sector-clearly-dominates-the-property-market","status":"publish","type":"post","link":"https:\/\/clemenceaurealestate.com\/en\/dubais-pre-sale-real-estate-sector-clearly-dominates-the-property-market\/","title":{"rendered":"Dubai’s pre-sale real estate sector clearly dominates the property market"},"content":{"rendered":"

[vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”5″ top_padding=”2″ bottom_padding=”2″ overlay_alpha=”50″ equal_height=”yes” gutter_size=”4″ column_width_percent=”100″ shift_y=”0″ z_index=”0″ uncode_shortcode_id=”198216″][vc_column column_width_percent=”100″ gutter_size=”3″ back_color=”color-xsdn” overlay_alpha=”50″ preserve_border=”yes” preserve_border_tablet=”yes” preserve_border_mobile=”yes” border_color=”accent” border_style=”solid” shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ uncode_shortcode_id=”887169″ back_color_type=”uncode-palette” border_color_type=”uncode-palette” width=”2\/3″ css=”.vc_custom_1695499831617{border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;}”][vc_column_text uncode_shortcode_id=”114532″ el_id=”text-justify” el_class=”text-justify”]Dubai’s pre-sales real estate sector clearly appears to be dominating the property market after a quiet period in 2020, with pre-delivery sales recording an increase of over eight times in recent years and accounting for more than half of all transactions.<\/p>\n

The emirate recorded pre-sale transactions worth 34 billion dirhams ($9.3 billion) in the second quarter of the year, up 750% on the 4 billion dirhams worth of transactions recorded in the same period in 2020.<\/p>\n

This represents an increase of around 30 billion dirhams in transactions over three years, according to Dubai-based real estate developer Zazen Properties.<\/p>\n

This growth was driven by affordable prices in the pre-sales segment and the higher return potential offered by properties under construction.<\/p>\n

“Pre-sale real estate, especially under construction, is significantly more affordable compared to ready-to-go properties,” said Madhav Dhar, COO and founding member of Zazen Properties.<\/p>\n

Falling demand<\/p>\n

The pre-sales segment of the market performed poorly after the relaxation of COVID-19 restrictions in 2020, with most buyers preferring to purchase completed or secondary units.[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”5″ top_padding=”2″ bottom_padding=”2″ overlay_alpha=”50″ equal_height=”yes” gutter_size=”4″ column_width_percent=”100″ shift_y=”0″ z_index=”0″ uncode_shortcode_id=”916983″][vc_column column_width_percent=”100″ gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”4″ mobile_width=”0″ width=”1\/3″ uncode_shortcode_id=”517811″][vc_single_image media=”679″ media_width_percent=”100″ media_ratio=”one-one” uncode_shortcode_id=”186008″][\/vc_column][vc_column column_width_percent=”100″ position_horizontal=”left” position_vertical=”middle” gutter_size=”3″ back_color=”color-lxmt” overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”4″ align_mobile=”align_center_mobile” mobile_width=”0″ width=”2\/3″ uncode_shortcode_id=”175651″ back_color_type=”uncode-palette”][vc_column_text uncode_shortcode_id=”186649″]In August this year, pre-sales reached their highest market share since the start of the pandemic. Pre-sales now account for 64.7% of the market, according to a separate Property Monitor report.<\/p>\n

“Pre-sales had briefly held a dominant market share of this level in April 2020, when the COVID-19 pandemic had limited the ability to complete real estate transactions for completed properties due to mobility restrictions and the temporary closure of trustee offices,” says the report.<\/p>\n

Total sales transaction volume increased by 8.1% month-on-month, reaching a total of 12,134 sales and marking the highest volume ever recorded for the month of August.<\/p>\n

Since the beginning of the year, over 85,000 transactions have been recorded, representing an increase of 41.9% compared to August last year, and a 125% increase compared to 2021.<\/p>\n

“Launches of new development projects and pre-sale property sales have been important drivers of the scale of transactional activity this year,” said Property Monitor.[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”5″ top_padding=”2″ bottom_padding=”4″ back_color=”color-xsdn” overlay_alpha=”50″ gutter_size=”3″ column_width_percent=”100″ shift_y=”0″ z_index=”0″ inverted_device_order=”yes” uncode_shortcode_id=”201251″ back_color_type=”uncode-palette”][vc_column column_width_percent=”100″ align_horizontal=”align_center” gutter_size=”3″ style=”dark” back_color=”color-168873″ overlay_alpha=”50″ preserve_border=”yes” preserve_border_tablet=”yes” preserve_border_mobile=”yes” shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ width=”1\/2″ uncode_shortcode_id=”390001″ back_color_type=”uncode-palette” css=”.vc_custom_1695747303794{border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;}”][vc_custom_heading text_weight=”600″ separator=”yes” separator_color=”yes” sub_reduced=”yes” uncode_shortcode_id=”136497″ subheading=”Want to invest in real estate in Dubai? Contact us and one of our agents will answer all your questions.”]Contact us[\/vc_custom_heading][vc_button button_color=”accent” border_width=”0″ scale_mobile=”no” uncode_shortcode_id=”581592″ button_color_type=”uncode-palette”]contact a Clemenceau agent[\/vc_button][\/vc_column][\/vc_row][vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”5″ top_padding=”2″ bottom_padding=”2″ back_color=”color-xsdn” overlay_alpha=”50″ gutter_size=”3″ column_width_percent=”100″ border_color=”color-gyho” border_style=”solid” shift_y=”0″ z_index=”0″ uncode_shortcode_id=”191157″ css=”.vc_custom_1695500910174{border-top-width: 1px !important;padding-top: 9px !important;padding-bottom: 9px !important;}” border_color_type=”uncode-palette” back_color_type=”uncode-palette”][vc_column column_width_percent=”100″ gutter_size=”3″ font_family=”font-136269″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ width=”1\/1″ uncode_shortcode_id=”177861″][uncode_navigation stacked_layout=”yes” title_responsive=”yes” title_medium_visibility=”yes” title_mobile_visibility=”yes” parent_type=”icon” thumbnails_shape=”circle” thumbnails_responsive=”yes” thumbnails_mobile_visibility=”yes” icon_responsive=”yes” el_id=”index-1″ parent_icon=”fa fa-th-small” prev_icon=”fa fa-arrow-left2″ next_icon=”fa fa-arrow-right2″ previous_label=”Pr\u00e9c\u00e9dent” next_label=”Suivant”][\/vc_column][\/vc_row]<\/p>\n<\/section>","protected":false},"excerpt":{"rendered":"

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