Affordable Homes For Sale in Dubai Demand Jacked up! 10,000 Houses to be Delivered in 2024

Dubai real estate is shining bright in the Emirates with exceptional and unprecedented demand for houses. Affordable homes for sale in Dubai are getting more attention as buyers are more converged towards the less expensive properties loaded with high-class amenities. Despite the stunning views and the outstanding reputation of the bustling metropolis, the price of the apartments remains comparatively lower than the other cities in the UAE. There are a couple of reasons that significantly contributed to maintaining the price even with the high demand. In this blog, we will immerse and explore the causes of escalated demand and availability news of 10,000 homes.

Demand for Affordable homes for sale in Dubai

Here is a quick view of the aspect that has resulted in increasing the demand for affordable homes to buy in Dubai.

Government’s Support - Initiatives are Getting increased

The government of Dubai has initiated various schemes and programs to support the developers and projects in real estate. For the long-term sustainability of the real estate sector, it is important that the government should support such projects. Some of the initiatives by Dubai’s government include:

• Comprehensive regulations for off-plan properties in Dubai
• Residency and visa programs
• Cooking measures to prevent real estate market heating including speculative buying and lending transactions

Comparison with other Global cities – Dubai winning the Real-estate race

Dubai is relatively affordable and offers more affordable homes than the other global cities. This is one of the significant reasons making Dubai property exclusively demand. Below is the table showing a comparison of the property price per sq.m in the major cities in comparison with Dubai.

Exclusive Amenities – Making life convenient 

Another reason why buyers are shagging the Dubai property is the presence of luxury facilities. The luxury amenities offered by the Dubai housing project offer a life that is unmatched and is driven by a well-thought-out plan.

The state-of-the-art infrastructure and the attractive positioning of the apartment in Dubai at an affordable price have made the buyers attracted to this. The presences of the gated and luxury communities make Dubai real estate the best property investment in Dubai.

Dubai Answering the demand for Housing spaces – 10,000 Homes to be delivered?

As mentioned earlier the demand for Dubai real estate is extraordinary which also requires unprecedented projects and housing spaces to completely satisfy the demand of the buyers. In this regard According to AlArabiya news, Dubai will have 10,000 new townhouses and villas over the next two years.

Since 2014 the transaction demand in Dubai has ever witnessed reached at an all-time high as highlighted by Dubai Land Department Data.

According to another report by the trustable real estate agency, it is evident that due to the low mortgages and increased number of purchasers, buyers continue to buy houses across the city. The buyers are more interested in the housing spaces that are situated in low-density communities with larger living spaces.

Besides, another interesting aspect that has been witnessed is that the buyers are not focusing on the off-plan properties in Dubai but are more interested in buying the completed housing projects. One of the major reasons for this demand is the Covid-19 pandemic.

Reports Analysis – What is the Analysis of 10,000 Homes Delivery? 

In Q3 the additional units of 10,816 units are forecasted to be delivered. The total number of units that can be termed as launched marked the milestone of 53,000 with 93% of the units being villas. However, in Q2 83% of the launched properties were apartments.

Following is the division of 10,816 units that will be completed by the end of 2024 and offered to the buyers to meet the increased demand for housing.

Notable Launches among 10,000 Housing Projects – Dubai Real Estate Unleashing!

The major and notable projects among the various others are Emaar, Damac Hills 2, Palm Jebel Ali, and Dubai Hills Estate which are offering and performing beyond expectation.

The Oasis is the recently launched project by Emaar that constitutes around 67% of the launched project in Q3. Damac Hills 2 offers around 1,349 homes with the anticipated completion between the years 2024 to 2026.

Even if you are looking for affordable homes for sale in Dubai the next properties including Palm Jebel Ali with 817 homes, Damac Lagoons 2ith 554 units, and Dubai Hills Estate with 389 homes are the best and inexpensive options.

Other launched projects are Dubai Islands, Al Brari, Tilal Al Ghaf, Dubai Water Canal, and Business Bay with 296, 189, 150, 48, and 24 homes offered respectively.

With this exceptional performance of Dubai real estate and buyer-centric payment plans, people want to buy housing units without any delay. The developers are also satisfied as the current atmosphere of Dubai real estate is favoring productive outcomes.

Conclusion 

Dubai's real estate market is all set to offer 10,000 homes at the end of 2024. These homes launched by the prestigious developers also fall in the category of Affordable homes for sale in Dubai, making them high in demand. Besides, some of the major reasons that are acting as a catalyst in increasing the demand for living units include the availability of amenities, expert developers on board, less expensive housing units, and support from the government. These features of Dubai real estate are pushing the market to launch more projects to meet the increased demand.