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Dubai Off-plan sales see an unprecedented increase since 2008

UAE - November 30, 2017

Off-plan sales in Dubai have recorded an unprecedented increase for the first time since 2008 where they amounted to more than half of total real estate transactions in Dubai.

It is worth mentioning that the gap between off-plan transactions and sales of ready property for the third quarter of 2017 is not worthy of mentioning, 19,915 (50.45 percent) against 19,564 (49.55 percent); however, it represents a significant market trend.

According to fäm Properties, one of Dubai’s largest real estate brokerages, in 2010; ready sales have exceeded off-plan sales by ratios as high as 88 percent-12 percent.

“While initial launch phase sales by speculators have dropped, there has been a big increase in pre-handover sales within six to nine months of completion, and these buyers are largely medium to long-term investors or end users,” Firas Al Msaddi, CEO of fäm Properties said.

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