The upbeat sentiment of the UAE property sector has been underlined by a new survey conducted by global market research company YouGov, which revealed that 60% of investors expect Dubai’s real estate market to grow over the next 12 months.
With over half of home buyers (54%) feeling positive about the continuing growth of the Dubai real estate market and a further three-fifths (58%) expecting an increase in sales and rental prices over the next year, all indications point towards a buoyancy in the residential market.
These figures emerge as thousands of investors from around the world prepare to descend upon the Middle East’s largest property showcase, Cityscape Global, held at the Dubai World Trade Centre from 8 – 10 September. More than 100 local developers will participate in the 14th edition of the event next week to showcase their latest projects.
The YouGov survey has shown that location is a significant factor in determining where investors purchase their properties in the Emirates. According to 861 UAE residents, properties near public transportation are the most attractive and in demand (56%), followed by those close to grocery stores (44%), retail shopping malls (41%) and Mosques (37%).
Conducted exclusively for Informa, the organisers of Cityscape Global, the study also revealed that studios and one bedroom apartments are growing in popularity in the UAE real estate market, with investors shifting their focus to smaller, affordable residential options.
Jumeriah Golf Estates will be capitalising on this opportunity as they showcase their latest development, AlAndalus, which offers end-users a new definition of affordable luxury.
Yousuf Kazim, CEO, Jumeirah Golf Estates said: “Jumeirah Golf Estates has had a productive first half of the year and is continuing to reinforce the growth momentum plans for ongoing development. As the progress of construction continues, we are continuing to partner with businesses to ensure our residents are provided with the ideal living community.”
Showcasing their Botanica Project, located in the popular Jumeriah Village Circle, Sky View Real Estate Brokers and Myra Real Estate Development will also be offering end-users and investors an affordable option.