Dubai: UAE’s off-plan properties are seeing high demand from individual investors, who are selling these units even before completion, according to a Property Finder report.
“Over the years, investors have increasingly chosen to ‘flip’ their properties and participate in secondary off-plan sales where they sell their unit while it is still under construction,” said Property Finder.
During May 2020, in the midst of lockdown, the secondary, ready market slumped considerably. This was the only month in which developers sold about three times more ready properties than individual investors. The breakdown stood at 23 per cent by investors and 77 per cent by developers. This gradually shifted in favour of investors, increasing to 55 per cent in June, peaking at 73 per cent in October, and settling at 68 per cent in January and February this year.