Additionally, A Metropolitan Homes-Commissioned Survey Reveals That 90% Of Respondents Plan To Buy Another Home In The Emirate After Selling Their Current One.
According to a YouGov survey commissioned by Metropolitan Homes, a new division of the Metropolitan Group concentrates on Dubai’s secondary market. That catering to end-users, investors, and wealthy asset owners, nearly two-thirds of Dubai property owners polled (64%) plan to sell their respective units. To take advantage of current market conditions, 52 percent would do so in the next 12 months in exchange for a good premium.
The same survey questioned 300 UAE property owners in the first half of January. Found that 90% of Dubai property owners would buy another property in the emirate if they were able to sell their current one for a reasonable profit. 15 percent of respondents spent more than Dh500,000 renovating their property. While another 83 percent indicated they had made major modifications since purchasing their home.
According to Metropolitan Homes’ head of sales, Alina Adamco, “The YouGov survey results are further evidence that UAE homeowners are confident in Dubai as a reputable real estate market. That the level of schedule in the secondary market will keep boosting trading volumes in the Emirate’s real estate sector. In addition, 22% of respondents in the 45+ age bracket said they intended to retire and settle down permanently in the UAE.
“The anticipated rise in the number of present property owners who intend to sell their units would be advantageous for buyers. Especially who want to make investments in Dubai’s secondary market this year. With the support of good market circumstances, a solid UAE economy, the city’s image and appeal as a safe and secure investment location, and recent legislative reforms, this in turn could sustain a long-term growth spurt for Dubai’s real estate sector “Added she.
These reforms, give residents a compelling reason to invest in the nation and enable non-residents to make the UAE their second home. Including the UAE Golden Visa regulations, residency permits for retirees, and the digital nomad trend. Together, they all work to attract more investment into Dubai real estate.
In addition, prospective owners of residential property in Dubai can maximize their investment. Because, according to industry forecasts, the city’s population is anticipated to increase from its current level of 3.5 million to 5.8 million by 2040.
Nikita Kuznetsov, the partner at Metropolitan Group and CEO of Metropolitan Premium Properties, stated that the current and anticipated market conditions favor owners of Dubai residential properties. Who is considering selling or renting their units. Because demand for ready property outperforms supply, especially in sought-after locations. We expect this tendency to continue in the near future because our secondary market transactions surged by 300 percent last year.
- The Metropolitan Homes – YouGov survey’s other features include:
- Eighty-one percent of those surveyed own one or more properties
- Eighty-nine percent of those surveyed recently purchased a home
- 65% answered they were still residing in the home they bought
- Following the sale of their current property, 61 percent stated they plan to upgrade
The full-service real estate firms Metropolitan Premium Properties (Dubai) and Metropolitan Capital Real Estate LLC are part of the Metropolitan Group in the United Arab Emirates (Abu Dhabi). The Group also consists of Metropolitan Consultancy FZE, which offers business and personal legal services in the UAE, and Luxury Immobilien GmbH, a Vienna-based real estate brokerage.