Dubai’s off-plan property sector has experienced a substantial rise in transactions, making up 60 percent of total property deals in July 2024, compared to 49 percent in July 2023.
This growth aligns with the city welcoming 9 million visitors in the first half of 2024, underscoring its attractiveness to both investors and tourists.
Industry experts are providing guidance to first-time buyers entering this market.
Dubai’s off-plan property market surges, experts offer advice for first-time buyers
“Before investing in off-plan properties, it’s essential to thoroughly research the developer. Look into their history, track record, and reputation for timely project delivery. A dependable developer is crucial for ensuring your investment is secure and meets your expectations,” said a Betterhomes spokesperson.
Recent data shows that the top five off-plan developers by total sales value in July 2024 were Emaar, Sobha Group, Danube Properties, Meraas, and Ellington Properties.
In July 2024, average sale prices for off-plan properties were AED1,849,251 for apartments, AED3,003,618 for townhouses, and AED6,547,782 for villas.
Experts recommend buyers to consider amenities and prioritize location when making their purchase. “A well-located property provides convenience and better resale value,” the spokesperson advised.
The top three apartment communities in Dubai were Dubai Hills Estate, Jumeirah Village Circle, and Business Bay. For villas and townhouses, Dubai South, The Valley, and Nad Al Sheba were the most favored.
