Young and middle-aged people who intend to stay in Dubai on a long-term basis are increasingly choosing to buy real estate rather than rent it. Heads of real estate agencies and real estate analysts say that this trend is mainly observed among people with high salaries aged 20 to 40 years who invest their money to insure against inflation.
Recently, launched projects have been selling out rapidly. From 2021 to April 2022, the residences of all major developers in Dubai were completely sold out. Foreign buyers prefer to purchase off-plan real estate, as it is more convenient for them to pay for the purchase within three to four years than to take out a mortgage.
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