Thinking of selling your property in Dubai Marina? Here's 3 quick reasons why now is a right time to sell:
1. New stock coming to market
Between the first quarter of 2018 and the end of 2020, over 9,358 units in Dubai Marina are due for handover according to REIDIN. There are over 21 projects being delivered, the most significant projects being from big developers such as Emaar, Damac and Select properties. Besides this, there's the new Vida Dubai Marina Yacht Club to look out for.
There are 9,358 units due to be delivered by 2020 in Dubai Marina.
- Michael Ghaderi, Luxury Sales Specialist
2. Price expected to drop for older stock
The prices for Dubai Marina apartments are dipping and are flat for now, but it's expected to drop as more new supply and better quality of units come in. The above price points are in AED/sqft.
3. Quality units have inelastic prices
Despite there being fluctuations on prices in the market, I've often found that locations such as the Emaar Six Towers, Al Majara, Marina Promenade, Al Sahab, The Address Dubai Marina, Marina Quays and Park Island often get a competitive market price in comparison to other towers. These towers sell well and are in demand for those who want a home for immediate end use. If the units are upgraded, even better prices are more likely to be received. Some of the factors that impact the sale are prestige and quality of the building, refurbishments or renovations, location and views.
STILL LOVE LIVING IN THE MARINA?
If you're looking for alternative living options in the Dubai Marina, then Marina Gate happens to be handing over this quarter. It's the perfect time to sell your old home to gain a new one in a prime location!