Dubai: The end user is starting to make his presence felt in Dubai’s property buying space.
“What we’re seeing here is the evolution... where people are buying homes to live in after renting for a few years, then going on to sell those homes and upgrade to larger properties, creating a mature property cycle,” Lewis Allsopp, CEO of Allsopp & Allsopp, the estate agency, said.
According to Dubai Land Department data, the Dubai property market recorded Dh68 billion worth of deals (cutting across all types) in the first 53 days of the year. For the full year, the projections are for Dh300 billion plus.
“There are two distinct property markets in Dubai: the investment and the end user,” said Allsopp. “While the investment market is constantly analysed and discussed in media, it’s a fact transactions are up, especially in the end user market.
