A shift in market dynamics certainly calls for a shift in strategy. And the Real Estate market in Dubai has gone through a tough years recently. Overall, it has declined even further in 2018, coupled with low economic growth, strong USD, and a resultant drop in consumer spending. As a direct consequence of this declining, prices of sales and rent in the apartment segment have fallen by 7% and 9% respectively. Some analysts reckon it won’t be until 2022 when the market starts to recover again.
Nonetheless, it remains a dynamic market for investors worldwide. Specially at this time, with many offerings being introduced to reactivate the market. We can find examples here and there, though one of the most interesting is that of Arthur Mackenzy Properties Group. The company has read this shift in market dynamics and has responded to investor / buyer sentiment by devising and designing offers that match their convenience. Moreover, the company has just announced a very interesting 15-year payment plan direct from the developer and without the need for any financial institution or approvals.
One such offering is Casa Flores Villas developed by National Properties the property development arm of National Bonds Corporation. The offer entails a 15-year post- handover payment plan for premium Townhouse Villas located in the heart of Motor City, Dubai.
Dubai has been a haven for real estate investors for years and the Government and authorities are consistently putting favorable features in place to ensure it stays that way. One such example is the 10-year residence visa, which has enhanced the ease of doing business and is hence encouraging more people to buy property in Dubai and in lieu of this demand.
According to official estimates reported by Statista in 2018, the number of people in the age group of 30 to 34 years in Dubai was about 572,000, accounting for the largest demographic group. According to Global media Insight, the median age in the UAE is 33.5 years. In short, there is a significant millennial population in the country, and they prefer easy and flexible payment plans.
Post-handover payment plans have been developed for first-time home buyers who now understand that investing in Real estate is a smart way to keep the money you would have otherwise paid in rent. AMPG’s payment plans are also sensitive to the sentiment that purchasing a home is a big step, which is not a solely financial decision.
First-time home buyers who are not investors often turn to banks for financial assistance. The long-term payment plans offered by AMPG are a dependable and more economical alternative for the end users, which relieves them from qualification criteria and from incurring hefty interest rates charged by banks.
Shaher Mousli, CEO, Arthur Mackenzie Property Group said: “By committing yourself to buy instead of renting you will find that you have a property in your name at the end of a few years. That is called building equity which is one of the best things about owning a home”.
Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.