By Construction Week
An increasing number of expats in Dubai are choosing to buy rather than rent
An increasing number of expats in Dubai are choosing to buy rather than rent according to a new report from the Unitas Consultancy.
A report released described a "paradigm shift" in Dubai’s real estate market. The report highlights Dubai Marina, Jumeirah Lakes Towers (JLT), The Greens, Arabian Ranches, The Springs and The Meadows where it say one in six transactions is for owner-occupier homes – double the rate of four years ago.
In The Meadows and The Springs 28 percent of homes are owned by mortgage holders and in Arabian Ranches the figure is 25 percent while The Greens reached 23 percent.
The report also highlighted what it calls the “renaissance” of JLT as “the preferred destination for the middle and middle-classes", where prices are catching up with neighbouring Dubai Marina, claimed Unitas.