Join our Operations Director, Paul Kelly and Managing Director, Marc Walters as they unpick the mind-blowing data within our August Market Snapshot, revealing what it really means for you and why right now, could be the most magic time to consider selling.
Let's dive into the highlights of their conversation.
Dubai's vibrant real estate market
The podcast begins with a discussion about Dubai's current real estate market. Marc and Paul highlight the return of activity and how Dubai, as always, remains an attractive destination for people from all over the world.
Diving into the August data
They then dive straight into the August transaction data, comparing the volume of transactions in August to previous months and years. While Dubai's overall property market saw an increase in transactions, Allsopp & Allsopp experienced a 16.3% year-on-year decrease. Marc explains that this could be attributed to the time lag involved in real estate transactions, which can take several weeks or even months to complete.
Off-plan transactions and launches
Paul and Marc discuss the significance of off-plan transactions and property launches. They note that Dubai's developers are focusing on creating lifestyle-driven communities with top-end brands entering the market. While there are concerns about speculative sellers and overreliance on off-plan properties, they believe that the market is still undervalued.
Is now the right time to sell your property?
The conversation then addresses homeowners currently considering selling their properties. There’s no surefire way to predict the movements of the market, so it’s essential for homeowners to look carefully at their financial goals and comfort levels.
What are the market dynamics?
We then look at the various market dynamics, including the increase in tenant registrations and the continued rise of speculative sellers. The guys also highlight the lifeline of our DataHub, that provides valuable information on property transactions, valuations, and market trends.
Diving into lettings
In terms of lettings, we explore the increased demand for rental properties, which is reflected in rising rental prices. The hosts discuss the impact of tenants moving from rentals to homeownership and the resulting vacancies in the rental market.
Viewings and new listings as per Allsopp & Allsopp data
Lastly, Paul and Marc share statistics related to viewings and new property listings. They mention the steady increase in viewings, indicating a strong appetite for properties in Dubai. New listings to the rental market have also surged, possibly due to homeowners purchasing properties.
Keen to know more?
Tune in to Taking Care of Business, every Friday.
#ICYMI: Take a look at our August Market Snapshot here.