DUBAI: Developers are changing the mix of their properties on offer to convince buyers they are making the right choice — and it has nothing to do with the offer price.
With some of the recent launches, developers have reduced the sizes of the apartments, “rather than the per square foot rate,” states a recent report from Reidin-GCP. “This shrinkage in size has led to fewer apartments in the freehold space having a fully closed kitchen as developers optimise the carpet area.
“An analysis of monitored freehold areas reveals that a ratio in excess of 9:1 is for open kitchens versus closed kitchens. We opine this ratio will continue to gravitate higher as new developments eliminate the concept of a closed kitchen.”
The open vs closed kitchen debate tells on property values too — price analysis of buildings in JLT with open kitchens and those with closed kitchens showed that the latter experienced “superior growth rates”, states the Reidin-GCP report. “A similar outcome can be witnessed for one-bedrooms in Reemram with and without open kitchens. As the scarcity for closed kitchens continue to increase we opine this premium will widen.”