Sentiments at the Cityscape Global Dubai

Finally some positive energy and positive sentiments in the property market however, mostly it was the developers and some agent who were very pumped.
Otherwise a large number of Investors and buyers are still very sckeptical about the market specially the new launches. Re-launches of some of the projects from 2008 for eg: The Pad and cube by Omniyat also brought back unpleasant memories. Omniyat hardly delivered anything unlike Damac or Deyaar when it comes to private brands. Flashy stands with beautiful models didn’t really help them gain any traction whatsoever. Buyers want to see results and they saw that with other developers.
Alot of hype was given to this event but the turnout was quite low according to some of the agents.
Expo 2020 is the new buzzword in the city, but fact of the matter is it will be very difficult to maintain the momentum until then.
Increment in transfer fees to 4% of the property value have also hurt the market.
But that didn’t stop a large number of buyers to still show strong interest in ready properties, they dont mind paying more but atleast they can see something physical.

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