Video: Is Dubai shifting from an investor-driven to a consumer-driven market?
Dubai property brokers are seeing an increasing number of owner-occupiers buying properties in the emirate.
Samer Abdin, GM of Dubizzle Property, speaking on this week’s AB Live, said the dynamics of Dubai’s property markets are changing, with more end users investing in homes.
“One of the shifts that has happened in the real estate market is when you go back a few years, it was primarily an investor-driven market from a sales point of view. Now we are seeing more and more, the shift to end users. People are buying to live, families settling in, who are planning to make Dubai a long-term home. And I think that is a sign of maturity”, he explained.
As a result, people are opting for larger apartments and villas to experience community living, which are now becoming affordable.
“The way the market is going presents opportunities. The way that Dubai is maturing means that more people are settling. Young families are starting to grow and they are looking for villas in places like Dubai Land, Arabian Ranches. People are looking for that community feel,” Abdin said.
“If you are an end user, yield is not the only thing. You are also looking for community, facilities etc. As more and more end users are buying properties, more and more of these considerations are taken into account and developers are starting to realise that too,” he added.