Giant line: fresh objects in Dubai are sold within a couple of hours from the announce moment
Real estate shortage is still observed in Dubai and it gradually approches the pre-pandemic situation in the UAE. The market has not rebuilt, but investors and customers occupied the developers with huge demand for new housing.
Several hundred units of Shams townhouses at Town Square built by the real estate developer Nshama, based in the UAE, have been so far purchased by the target audience and the investors just for a few hours from the moment of their opening. Lines in front of Nshama head trade office appeared already in the morning.
An agent of Positive Properties realtor agency confirmed that he had been present in the line since early morning.
“Hundreds of people formed a line in front of the center in the very morning right after the weekend. When the center door opened, specialists and regular buyers ran for their tokens. Really resembles the past of Dubai — I had nostalgia from the first deals.”
An agent confirmed that he took up a place after buyers who wanted the same had project.
“The good thing is that, after obtaining the token rather quickly, the potential customers may decide which of the projects to choose later. They won’t have to use their non-actual offers from those nobody needs.”
The agent said: “After taking my token, I contacted the customers immediately. One of them arrived as far as from the capital city. The customer was extremely happy”
The first customers
The agent said that for the time of work in this field (almost 10 years), the number of people to be the first to come for token acquisition had notably increased.
“The most part of buyers for the previous trimester purchases real estate in Dubai for the first time”, he said. “There is the entire list of causes due to which the audience prefers the Dubai market. Zero taxation and easiness of basic business processes are the most popular factors.”
The agent specified that the current instability of the securities market provokes attention to the real estate market.
For regret, there is a need to monitor all the market fluctuations, because they are interconnected. “When shares fall, so does real estate”, the agent said.
“All the same, investment in real estate are the safest, even in such anxious and changeable times.”
What is the reason of such boom?
According to real estate industry insiders, this object gathered the excessive number of followers and was sold for three hours.
Prices for townhouses were reasonable, starting from one and a half mln AED for a 3-bedroom villa of 2,100 sq. feet and ending with two mln AED for a 4-bedroom villa of 2,381 sq. feet. The customers were offered the initial contribution in the amount of one tenth of the amount, 40% in the development process, and the remaining half by the end of the project construction in 2 years.All news