Time to buy? Distress sales plague Dubai property market hit by COVID-19 – ZAWYA

Time to buy? Distress sales plague Dubai property market hit by COVID-19 – ZAWYA

Owners are listing residential properties at a 10 to 15 percent discount on the current market price as they seek to liquidate their assets to tide over the crisis.. Single property owners or end-users will [try to sit out] this downturn before selling their properties on distress," Syed added.. Bigger properties are being offloaded more in distress sales in Dubai.. For instance, brokerages are reporting more distress sales of villas/townhouses with two bedrooms and above.. "Big properties not only require higher capital towards down payment but also generate less returns as compared to small properties," said Kunal Puri, founder and CEO, La Capitale Real Estate.. Brokerages Zawya spoke to said that if sellers can hold off selling in the short term, they must do so until the crisis unfolds..