Secondary Real Estate in Dubai is 14-30% Cheaper than New Buildings
September 05, 2022
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Buyers can choose options in the same projects at different costs.
The cost of newly launched new buildings in Dubai is about 14-30% higher than for ready-made objects with similar characteristics.
Prices. The average price per square meter of housing sold directly from the developer is $4,833. But the cost of a pre-owned apartment is $4,233 per square meter.
In the center of Dubai, the price of housing from the developer averages $7,864 per sq. m., and in the secondary market - $6,044.
According to DXBInteract.com a similar situation is happening on the Palm Jumeirah and in the Dubai Marina.
Reasons. The reasons for the price gap between the value of real estate under construction and finished objects are not only in the desire of developers to earn.
Initiatives of the UAE government, including the expansion of the 10-year "golden visa" program and the range of opportunities for obtaining a residence permit have contributed to an increase in prices and the number of transactions in recent months, and it has become especially noticeable in the luxury real estate sector.
Building materials are becoming more expensive, and more and more construction companies are adding more elements of luxury and functionality.
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