Nearly two thirds of Dubai property owners polled (64 per cent) plan to sell their respective unit to take advantage of current market conditions and 52 per cent would do so in the next 12 months in return for a good premium, according to a YouGov survey commissioned by Metropolitan Homes, a new division of the Metropolitan Group focusing on Dubai’s secondary market and catering to end-users, investors and wealthy asset owners. According to the same survey, which polled 300 UAE property owners during the first half of January, 90 per cent of Dubai property owners would purchase another property in the emirate if they sold their existing one at a good premium. Eighty-three per cent said they made significant improvements since they bought their property with 15 per cent of respondents spending over Dh500,000 to renovate their property. “The YouGov survey results are further indication that UAE homeowners are confident in Dubai as an established property market and that the level of planned activity in the secondary market will continue to fuel transaction volumes in the emirate’s real estate sector,” says Alina Adamco, Head of Sales, Metropolitan Homes. “The survey also found 22 per cent of the survey participants in the 45+ age group plan to retire and live in the UAE permanently.
“Buyers looking to invest in Dubai’s secondary market this year will benefit from the projected increase in the number of current property owners who plan to sell their units. This in turn could help sustain a long-term growth spurt for Dubai’s realty sector backed by favourable market conditions, strong UAE economy fundamentals, the city’s reputation and appeal as a safe and secure investment destination and recent legislation reforms.”