There is currently a large focus on ready homes in Dubai. With off-plan property launches dropping to their lowest level in five years, a lot of people have focused their attention on ready homes. According to data from Reidin-GCP, just under 17,000 new homes were completed in the year to date. This could mean that the total number of unites completed in 2019 could reach the 25,000 mark.
Ready Homes Proving Popular in Dubai
A number of the new homes already completed are still awaiting buyers, but developers are still keen to offer incentives. Previously, developers offered incentives at the off-plan stage but this is now being seen with ready homes as well. As well as choosing off-plan homes and ready homes, buyers can also select a home in the secondary market. With prices often more in line with what buyers are wanting to pay, the secondary market is also a popular route.
Managing Director at Global Capital Partners, Sameer Lakhani, explained that there are still better bargains to be had in the ready home space than in the off-plan space.
Sameer Lakhani said: “Despite some reduction in the gap, off-plan launch prices are still higher over ready/secondary market prices, and that will always be the key with a certain type of buyer. It’s because of the post-handover payment plans and the other incentives — such as free registration and waiver of service charges — that off-plan launch prices remain high. For now, the direct discounts are mostly taking place on ready units.”