From pricing and incentives to launch activity and delivery timelines, Harry Martin, Head of Off-Plan & Capital Markets at betterhomes, answers the most pressing questions shaping buyer decisions in Dubai’s off-plan market right now.
Is there still value in the off-plan market now?
Yes, according to Martin, but buyers now need to be much more selective about where they place their capital, which developers they choose and the price they pay.
“Ultimately the answer to that question is yes. I think there’s value in any market cycle,” he said.
Are there still deals to be had?
Martin said that depends on how a buyer defines a deal. While there has been no real slashing of prices, he pointed to more favourable incentives from some developers, including post-handover payment plans and improved payment terms.
“There’s been no real slashing of prices to evidence a decline and a deal,” he said. “But we’ve seen some real interesting incentives.”
Are project timelines changing?
On future launches, Martin said there has been some hesitation from certain developers, which may help the market’s absorption rate settle. On current completions, however, he said betterhomes is not seeing any notable concern.
“At the moment project timelines are looking very, very good,” he said. “We’ve not seen anything worth noting that’s causing any concern.”
Is a slowdown in new supply necessarily a bad thing?
Not necessarily. Martin said a more measured pace of new project launches could support the market, provided current handovers continue as scheduled.
“We’re still on track for 72,000 completions this year,” he said.
The overall message from the session was that opportunity remains in Dubai’s off-plan market, but buyers are now having to approach it with greater care, more discipline and closer attention to developer strength, pricing and deal structure.
