Dubai Marina Sees Increase In Apartment Sales Transactions

Dubai Marina is one of a handful of areas reporting an increase in apartment sales transactions. Gowealthy recorded an increase of about 20 percent in sales transactions from October to November 2009. The other areas include Jumeirah Beach Residence, Downtown Burj Dubai, and Jumeirah Lake Towers.

Asteco Property Management has reported that top three areas with the most activity in terms of apartment sales are the Palm Jumeirah, Dubai Marina, and Downtown Burj Dubai. The total number of transactions for November was 48 individual sales. However, this number is rather misleading, as several units were purchased by single investors; therefore the number of units was actually higher.

There were many end users that invested in these areas and most were South Asian, such as Indians and Pakistanis. In most cases, these were cash sales or partial cash sales, such as those who had prequalified for a mortgage, but paid additional case to cover what the mortgage did not.

Better Homes reports that now more than ever, buyers are looking for the best value for their money when it comes to an apartment. Since the last three months have shown little change in prices, there are now more properties that are very well priced.