Thursday 19 July 2018

Dubai property buyers 'must focus on supply factor'

DUBAI, September 14, 2017

Investors weighing up their options in Dubai's real estate must focus on under-supplied properties offering the best real value rather than those made to stand out by the most creative marketing initiatives, said an industry expert.
Careful analysis of market supply and demand is the key for property buyers, remarked Firas Al Msaddi, the chief executive of fäm Properties, a leading real estate brokerage, on the closing day of Cityscape Global, yesterday (September 13).
“There are so many amazing projects in Dubai and every developer claims that its product is the best,” said Al Msaddi. "Real estate marketing and promotion has gone to a new level of creativity and can confuse inexperienced investors or end users trying to identify the best purchase," he stated.
"If you have a budget of Dh1.2 million ($326,647) and want a one-bedroom apartment of 750-850 sq ft within a 2-km radius of Dubai Mall, there are more than 100 very similar buildings to choose from," pointed out Al Msaddi.
"It’s vital to evaluate a property in the context of expected end user demand once the project is completed in order to get the best return on investment," he added.
According to him, demand can be measured in terms of the property’s liveability offering – the amount of space and comfort – combined with the individuality and unique nature of the development and the overall market supply factor.

Al Msaddi identified a number of developments offering under supplied products that will generate growing demand due to their unique offerings. These include:
*Nikki Beach Apartments - the only project in Dubai offering a combined experience of beach club, waterfront 5-star hotel, freehold apartments with private beach located in the heart of Jumeirah.
*City Walk – located between Downtown and Jumeirah Beach, offering the only modern low-rise, freehold and spacious apartments as well as a unique retail component and entertainments landmarks.
*Mohammad Bin Rashid Al Maktoum City, District One Villas – featuring the only high-end freehold villas within 5 to 8 minutes drive of Dubai Mall, DIFC, Sheikh Zayed Road and Jumeirah.
*Mada Residences - the area’s only residential development to be handed over by Q2 2018 offering spacious 2 bed apartments with maid’s rooms.
*Dubai Canal Water Homes – offering 10 exclusive two-, three- and four-bedroom floating water-homes in Business Bay.
“Location, price, developer’s reputation, quality of build, size and view are usually the main decision-making factors, but buyers should make end-user demand the main driver of their investment decision,” he added.-TradeArabia News Service

Tags: Supply | Duhai | Fam Properties |

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