Article by Hatch & Co.
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Industry experts predict that Dubai’s property market in 2023 will be the “Year of Off-plan,” with off-plan properties offering long-term promise to investors and homeowners. Despite experiencing a slight slump during the pandemic, the off-plan market regained momentum in 2022, accounting for around 44% of all transactions and growing by 86% from the previous year. This year, the off-plan market is expected to reach new heights, with high-profile launches already underway and more expected to come, especially in the high-end residential segment.
Developers are offering incentives such as longer payment plans to encourage investment. This year’s off-plan market is poised to surpass the heights achieved in 2019.