Millennials or people born from 1976 to 1990 are said to dominate the Dubai real estate market soon. These are people who are primed into buying their homes for the first time instead of renting one, an article from Azernews.az said
The International Property Show 2016 will be Middle East's biggest property sales event for local and international real estate companies which will be held from April 11 to 13, 2016. This event is gearing up to welcome first -time home buyers which are expected to be on the rise.
Organizers of the event said that the realty market is as strong as ever especially with more banking and financial institutions that are offering better loan deals to owner-occupiers than investors which have strengthened the current trend.
More so, it is now easier for first-time home buyers to get mortgage provided they have a regular job. The Dubai Municipality has also plans to allocate more than 100 hectares of land for affordable housing which will surely target people that have salaries between AED3,000 to AED 10,000 monthly.
International Property Show is accredited by the Dubai Real Estate Regulatory Authority (RERA). It is the leading event in Dubai that bridges consumers and local and international real estate companies. It is a chance for real estate markets to show their products and to focus on transactional business as well.
Abdelbasset Betraoui Managing Partner, Land Sterling Chartered Surveyors And Property consultants said, "We are delighted to be a part of the IPS for a third year in a row. We have had a great response from our clients and have taken our own involvement to the next level by becoming a Bronze Sponsor of the event. We are definitely looking forward to the show this year and once again being part of IPS 2016."
"We expect companies to showcase no-frills homes with prices tailored to the middle income buyers, and first-time buyers," says Dawood Al Shezawi, CEO, Strategic Marketing & Exhibitions, organizers of the event. "As the market is entering a new cycle, first time buyers will find greater convenience than in the past, including lower down payments, flexible lending standards and a bigger selection of homes to choose from. We are confident this new cycle will reveal a new category of buyers that real estate companies will target in the coming years."
"We at the International Property Show allow retail sales on the exhibition floor. This brings more diverse number of buyers every year. 2016 will hold the best news for first-timers, especially considering that buying homes makes better sense than renting," added Al Shezawi.
Exhibitors expected in the event are Land Sterling, WahatAl Zaweya, Vendome International, Green Valley, Rubina Real Estate, Richland Real Estate, and Christie's International Real Estate.