The real estate market in Dubai is thriving and this has seen many exciting new buildings and projects spring up across the city. If you are looking to get on the property ladder here, you will certainly not be short of choice! This also makes it a great market to sell in and many people now will invest in property contained within a new apartment building to make some money.
If you are thinking of doing this, then it is wise to know which properties in new apartment blocks usually sell quickest. Having this information will not only enable you to bag the prime spots before anyone else but also have the most attractive property in the building to sell on in the future.
But which properties should you be considering first?
Penthouses are the king
A well-known luxury home developer completed a project and do you know which properties sold best? The answer was the Penthouses - indeed, they saw sales of $80 million in only 36 hours! But why is this? It really comes down to two things - space and views. Naturally, penthouses are high up which means they have coveted views which people desire. They will generally also have a more spacious layout and a higher-spec finish which is appealing to many people. For the same reasons, sub-penthouse apartments can be very popular as well.
Aspect plays a big role
One other thing that seems to affect which properties sell first is the aspect. In simple terms, this is which direction the house faces, be it North, South, East or West. It seems that those properties with a Northerly aspect are quick to sell which is worth knowing for investors. The major reason for this is the amount of sunlight which this aspect lets in and also what time of day the sun is most prominent in the property.
Outside space sells well
Any apartments with large balconies or terraces usually sell quickest. This is because buyers value any kind of outdoor space in apartment buildings and will, therefore, look for flats which provide it. Units with this sort of space can also come with land on the title which many buyers find appealing. Having outdoor space is also highly sought after by people who have pets or like to entertain friends regularly.
Higher up sells best
We have already noted that penthouse and sub-penthouse properties sell quickest normally. However, it seems that any higher up property will usually sell faster than one below it. This is thought to be because there is an inherent premium attached to higher up flats in buildings.
As the above shows, there are a few cool tips to take on-board when buying or selling property in Dubai apartment buildings. If you need any further help or advice, get in touch with fam Properties today.