Mid­dle east Signs of life

SuperYacht World - - Superyacht Aft Section -

The mar­ket in Dubai – the most pop­u­lar ex­pat des­ti­na­tion in the Mid­dle East – re­mains a mixed bag. Although both the apart­ment and villa mar­kets in the city state have been soften­ing for the al­most two years, David God­chaux, CEO of Core Sav­ills, says he has no­ticed that things are be­gin­ning to change in the low to mid-mar­ket bracket, and that this could fil­ter up­wards. “These sub­mar­kets are keep­ing up a steady in­crease, hav­ing re­versed their course since the first quar­ter in 2016. Dubai Ma­rina saw the high­est spike in year-on-year off-plan trans­ac­tion vol­umes at 165%, fol­low­ing the launch of many new de­vel­op­ments re­cently,” he says. “This has led many buy­ers to lock in early-bird in­cen­tives, re­sult­ing in a sen­ti­men­tal boost for the over­all dis­trict with av­er­age sales prices sta­bil­is­ing and start­ing to show early signs of re­cov­ery.”

Trans­ac­tion ac­tiv­ity has sim­i­larly in­creased at this end of the mar­ket on Palm Jumeirah. “How­ever, the over­all area per­for­mance is rel­a­tively weaker when com­pared to pop­u­lar Dubai Ma­rina, with the Palm dis­play­ing the high­est lag in sales per­for­mance with a year-on-year drop of 7%,” adds God­chaux.

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