Has the Dubai Real Estate taken off on a postive note in 2017?

Dubai Real Estate picked up well this year, with a boost in delivery of offplan projects with over 79 projects handed over comprising almost 12,000 homes being delivered to the buyers throughout the year, which is a significant increase from last year’s 9,500 homes delivery in offplans. Particularly, within the offplan domain in Dubai, the most popular element of the year was the introduction of post hand over payment plan, which boosted interest of investors and especially end-users, allowing them higher returns on investments as they would start reaping returns before having to pay 100% on their purchases, and would allow end-users to source personal loan initially, and pay off the personal loan to settle the pre-handover installments and obtain a mortgage for up to 75% upon handover from any local bank. Looking at the Q1 2017 transactions, only within off plan developments, there has been a substantial increase of 45% in volume, which goes to show the increasing demand offplan and how much payment plan based purchases are welcomed by the market in the current situation. A 25% increase in sales volume of secondary market is again a positive sign for the market during Q1, 2017 which collectively ended up at AED 12.28 billion worth of transactional amount. The end-users who opted for mortgage were more prominent in the market in terms of secondary market, however the flexibility...

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