They want to sell their existing units to take advantage of market conditions this year

90% of Dubai property owners plan to buy a new property

83% of respondents have made significant improvements to their real estate units. Archival

Nearly two-thirds (64%) of Dubai property owners intend to sell their properties to take advantage of current market conditions, and 52% said they would do so in the next 12 months if they get a good return. The poll was commissioned by Metropolitan Homes, a new division of the Metropolitan Group.

According to the survey, which surveyed 300 property owners in the UAE during the first half of January, 90% of property owners in Dubai would buy another property in the emirate if they sold their existing property for a good price. 83% of respondents said they have made significant improvements to their units since they bought them, with 15% spending more than AED 500,<> to renovate their units.

Commenting on the findings, Alina Adamco, Head of Sales at Metropolitan Homes, said: "The YouGov survey results are a further indication that homeowners in the UAE trust Dubai as a strong real estate market, and that the expected level of activity in the secondary market will continue to boost the number of deals in the emirate's real estate sector. The survey also showed that 22 per cent of respondents over the age group of over 45 plan to retire and live in the UAE permanently. Buyers looking to invest in Dubai's secondary market this year will benefit from the expected increase in the number of property owners currently planning to sell their units."

"This will undoubtedly help sustain long-term growth in Dubai's real estate sector, thanks to favourable market conditions, the solid foundations of the UAE economy, Dubai's reputation and attractiveness as a safe investment destination, and the recent legislative reforms that the emirate has witnessed."

Among the new reforms introduced are the introduction of golden residency regulations in the UAE, residency permits for retirees and ongoing digital transformation. All these reforms play an integral role in attracting more investment to Dubai's real estate market, as they provide a strong reason to invest in the country and provide residents with a sense of peace of mind to make the UAE their second home.

Moreover, in the future, residential property owners in Dubai can make the most of their investments, with the city's population estimated to rise from the current 3.5 million to 5.8 million by 2040, according to specialist reports.

Nikita Kuznetsov, Partner at Metropolitan Group and CEO of Metropolitan Premium Properties, said: "We see the current and projected market conditions as favouring residential property owners in Dubai if they are considering selling or renting out their units, as demand for ready properties outstrips market supply, especially in central locations in the emirate. Last year, we recorded a 300% increase in our secondary market transactions, so we expect this trend to continue for the foreseeable future."

Highlights of the study

81% own one or two real estate units.

89% have bought their property in the past five years.

65% currently live in the property they bought.

61% are looking to buy other better properties after selling their existing property.