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Over Two-Thirds Of Owners Polled Intend To Sell In Order To Capitalize On Market Conditions.
A YouGov survey commissioned by Metropolitan Homes found that 64% of Dubai property owners plan to sell. 52% plan to do so in the next 12 months. The survey polled 300 UAE property owners and found that 90% would buy another property in Dubai.
This is if they were able to sell their current property at a good premium. Metropolitan Homes is a new division of the Metropolitan Group, focusing on Dubai’s secondary market.
The company caters to end-users, investors, and wealthy asset owners. The survey was conducted in the first half of January. It found that many property owners are taking advantage of current market conditions. Dubai property owners are looking to sell their units to maximize profits.
Metropolitan Homes specializes in serving this market. Their focus is on the secondary market and providing excellent service to their clients. The company is well-positioned to help property owners buy and sell in Dubai. The survey provides valuable insight into the current state of the real estate market in Dubai.
Eighty-three percent stated they have made considerable modifications since purchasing their property, with 15% spending more than Dh500,000 on renovations.
Alina Adamco, Head of Sales at Metropolitan Homes, states that YouGov survey results indicate UAE homeowners’ optimism about Dubai’s established property market. The survey also revealed that 22% of respondents aged 45+ plan to retire and live in the UAE permanently. The expected increase in the number of property owners planning to sell their homes presents an opportunity for buyers interested in Dubai’s secondary market to invest this year.
Favorable market conditions, a strong UAE economy, and recent legislative reforms could sustain long-term growth for Dubai’s realty sector. A solid UAE economy, the city’s image as a secure location for investments, and recent legislative changes.
These reforms, give residents a compelling reason to invest in the nation and enable non-residents to make the UAE their second home. Including residency permits for retirees, the UAE Golden Visa regulations, and the digital nomad trend. Together, they all work to attract more investment into Dubai real estate.
In addition, prospective owners of residential real estate in Dubai can maximize their investment. Due to predictions that the city’s population would increase from its current level of 3.5 million to 5.8 million by the year 2040.
According to Nikita Kuznetsov, Partner Metropolitan Group and CEO of Metropolitan Premium Properties, the market conditions are favorable for owners of Dubai residential properties. Especially, those who are considering selling or renting their units as demand for ready property is higher than supply, particularly in sought-after locations. We experienced a 300 percent increase in secondary market transactions last year. Moreover, we anticipate that this growth will continue in the near future.
Among those who responded to the Metropolitan Homes – YouGov survey, 81% own one or two houses. 89 percent purchased their home during the past five years. 65% stated they are still residing in the home they bought, and 61% indicated they plan to purchase a new home after selling their old one.
The Metropolitan Group in the UAE also consists of full-service real estate firms Metropolitan Premium Properties (Dubai) and Metropolitan Capital Real Estate in addition to Metropolitan Houses (Abu Dhabi). The group also consists of Luxury Immobilien, a Vienna-based real estate company, and Metropolitan Consultancy. A UAE-based firm that offers business and personal legal services.
