Real Estate

Buyers of Dubai residential property are still being misguided by best price off-plan deals when they should be concentrating on the key elements that bring in end individuals, a UAE real estate says.

Firas Al Msaddi, Chief Executive Officer of fm Properties, claimed today that Dubai is experiencing an expanding pattern for acquisition choices in prime areas based on what end users see when they visit ready properties.

" Properties are commonly marketed as having the best price, however this can be really deceptive," says Al Msaddi. "If you take Downtown Dubai for example, we have actually seen off-plan two bedroom apartment or condos valued as low as AED1.6 m to AED1.8 m, with others advertised for between AED2.5 m and AED2.8 m.

" The truth is that the reduced priced properties could end up being a lot more pricey when you look at the rate per square foot, however unskilled customers don't take this right into account. And because they're getting off plan they may not imagine how little the apartment or condo is till it's far too late."

Includes Msaddi: "It becomes up being an issue if they decide to market or rent the apartment or condo to finish customers who desire much more living space, and find the price per square foot is high compared with other properties on the market."

This, Al Msaddi states, is specifically the situation in prime areas like Midtown Dubai where the huge bulk of end customers are GCC citizens, other Arabs and Indians that require spacious two, three and four residential property.

Situated at the heart of Midtown Dubai, the 36-storey Mada Residences luxury property tower is singled out by Al Msaddi as an archetype of desirable and sought-after Dubai house

" It's the only new residential development being handed over in Midtown in 2018, has the only two room homes with housemaids spaces in the location and is within simple strolling range of Dubai Shopping center and the Dubai Water Canal," he said.

" There's a lesson below for both financiers and end users who need to examine a building in the context of expected end individual need once the project is completed. This can be measured in terms of the residential or commercial property's liveability offering - the quantity of area and comfort - integrated with the uniqueness and unique nature of the development and the overall market supply factor."

Rather of focusing generally on the price and layaway plan, location and the designer, he states that purchasers need to make end individual need the main chauffeur of their investment decision.

Showcasing 193 bigger compared to ordinary 1, 2, 3 and 4 room luxury apartment or condos, the 36-storey Mada Residences development in Downtown Dubai is on course for conclusion by Q2 2018. Framework works were completed recently two months in advance of schedule and, uncommonly, a fully furnished 23rd cabaret apartment or condo is currently offered for seeing.

Subtitles:

1. Firas Al Msaddi: says buyers ought to make end user need the major vehicle driver of their financial investment decision.

2. Mada Residences: the just new residential growth being turned over in Downtown Dubai in 2018 offering 2, 3 and 4 room homes with maid's rooms.

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