By ; Saber Mohamed
Rapid changes in Dubai’s real estate industry is making it a preferred market for buyers. The emirate’s realty market is constantly maturing especially as it witnesses an increase in its population with each passing year. Seeing this rapid influx of people into the city attracts more investors, who are showing keen interest in purchasing properties to supplement this boost in rental demand. Overtime, with an increase in demand to rent property, a steady hike in the sales demand is also predicted wherein tenants and buyers will look out for properties constructed in desirable locations which will also offer a wide range of amenities. To meet this demand, developers are also becoming increasingly innovative by offering lucrative incentives and flexible payment plans to potential buyers. Kalpesh Kinariwala, Founder and Chairman of Pantheon Group, said: “Some perks that can be enjoyed by tenants and buyers in the emirate’s property market include guaranteed rental returns, short-term leases, flexibility to waving service charges on certain new off plan projects, along with several other exciting benefits.”
Pantheon Development, enjoys the reputation of being one of the leading developers of affordable luxury living solutions in Dubai’s realty market. Both its projects - Pantheon Boulevard and Pantheon Elysee - have been strategically built to target mid-market buyers while also addressing the shortage of affordable living in the city. With properties located in the Jumeirah Village Circle (JVC), these luxury developments are centrally located minutes away from the new airport and close to the Expo 2020 site. Dubai ranks among the world’s top 10 cities for having an affordable market for luxury property with the average price declining by 84 percent in the last five years.
Residential prices at Jumeirah Village Circle currently stand at AED 52, 142 approximately, and could experience some fluctuations in the upcoming months. At present, the emirate is looking to deliver approximately 47,500 apartments, villas and townhouse by December- roughly twice the number delivered in the past year, thus making investing now a more viable option.