UAE home sales on the rise: Is it a good time to buy or sell real estate now?

UAE home sales on the rise: Is it a good time to buy or sell real estate now?

Dubai: After surging rental demand caused property prices to record levels currently, UAE-based property brokers are evaluating how the real estate price rally is making way for what is known as a ‘seller’s market’. You can take advantage of this trend reversal too. Here’s how..

“Property sellers have now started to capitalise on a surge in property transactions and escalating prices driven by heightened buyer demand,” said Stephanie Myrtle, vice president of a Dubai-based real estate research firm.

“So with property deals and prices rising on the back of higher demand from buyers, it clearly indicates a ‘sellers' market’ in the UAE right now. What this means is with a spike seen in buyer demand, sellers will able to profit selling their properties now. But will this trend last? Not for long.”

How is a seller’s market different from a buyer’s market?

A seller’s market in real estate is when there's a shortage in housing or more potential buyers than there are homes available currently, and also when both property investors and end-users consistently get elevated returns.A buyer's market, on the other hand, occurs when there is a surplus in housing or more homes for sale than buyers. A balanced market