Off-plan properties accounted for 76 per cent of all real estate transactions in Dubai during April, according to figures shared during betterhomes latest market update webinar.
The share increased from 72 per cent in March, highlighting continued demand in Dubai’s off-plan property segment despite a slowdown in overall transaction volumes.
Market activity
According to the company, off-plan transaction volumes rose 7 per cent month-on-month and remained largely stable year-on-year, declining by just 1 per cent.
Harry Martin, Head of Off-plan and Capital Markets at betterhomes, said the numbers reflect how developers continue to drive activity in the market.
“The secondary market perhaps has a window of opportunity to wait if they need to, or a price buffer to fall back on. Off-plan doesn’t have that luxury. It’s a build-to-sell model, and that necessity is what’s keeping the segment trading.”
The webinar noted that while resale property owners may choose to delay selling during slower periods, developers continue launching and selling projects to maintain construction and sales cycles.
UAE economy
The discussion also touched on the UAE’s decision to exit OPEC after 50 years, which Martin described as a positive signal for the country’s economy and international investors.
“It’s a really good sign for international money and international interests that the UAE are doubling down and following their own trajectory,” he said.
According to Martin, the UAE had previously been limited by oil production quotas that were below its full production capacity.
Buyer advice
Martin also advised buyers who purchased property before the recent regional conflict not to stop payments on their properties.
For investors facing financial pressure, he recommended seeking legal and financial advice early, reviewing contract terms and considering resale options if necessary.
The latest figures suggest Dubai’s property market is adjusting to changing conditions, with off-plan sales continuing to account for the majority of activity across the emirate.
tanvir@dubainewsweek.com
